Remember Dubsmash? It’s been acquired by Reddit
Before TikTok’s boom, there was this app called Dubsmash for lip-syncing and making short videos. It lost its charm while the short-video sharing platform, TikTok grew. The growth prompted many social media companies, including YouTube, Snapchat, and Instagram to add TikTok-like features to their apps. Now, it looks like Reddit is all set to introduce its TikTok-rival as it has acquired Dubsmash. The financial terms of the deal were not disclosed, but a spokeswoman for Reddit said the acquisition was based on a combination of cash and stock.
Reddit announced the development in a blog post. “Dubsmash will bring two key strengths to Reddit,” the company wrote in the blog. “First, Dubsmash’s mission is unique among social platforms, and is aligned with Reddit’s own mission of bringing community and belonging to everyone in the world. Just as Reddit is a place for content you won’t see anywhere else on the Internet, Dubsmash provides a welcoming platform for creators and users who are under-represented in social media.” It continued, “second, we will integrate Dubsmash’s innovative video creation tools into Reddit, which will empower Reddit’s own creators to express themselves in original and authentic ways that are endemic to our communities.“
The entire Dubsmash team is joining Reddit, including the three co-founders, Suchit Dash, Jonas Drüppel, and Tim Specht. That said, Dubsmash will maintain its own platform and brand. The company says that about 25 percent of all Black teens in the U.S. are on Dubsmash, and females represent 70 percent of users. And, about 30 percent of users log in every day to create video content, which indicates a high level of retention and engagement. The video platform enables more than one billion video views per month. Now, Reddit aims to provide a unique creator experience of Dubsmash with the community growth engine of Reddit.