Reddit buys TikTok rival Dubsmash
Reddit, a social media startup co-founded by Alexis Ohanian, has acquired Germany-based TikTok rival Dubsmash. The terms and total amount of the transaction were not disclosed. Now, the all-out war on TikTok is getting hotter as Reddit joins Instagram, Triller, and others, to take on Chinese-owned app TikTok in the fast-growing short-video space.
Founded in Germany in 2014 by Daniel Taschik, Jonas Drupel, Roland Grenke, and Tim Specht, Dubsmash is a music and dance app that lets users record videos of themselves that are dubbed over with audio from songs, movies, and TV shows.
Dubsmash’s new viral messaging app has taken the number 1 spot in the App Store of over 29 different countries across Europe. Dubsmash is both an essential part of creators’ toolkits and a secret weapon for artists looking to promote their music. In an announcement on Medium, Dubsmash’s founders said:
“It is with great excitement that we share today Dubsmash has been acquired by Reddit… We are excited to accelerate Reddit’s focus on video, bringing our tools and technology to their passionate, rapidly-growing user base and sparking evermore forms of creation.”
Reddit is not alone in wanting a piece of the quick video sharing market. Back in July, Instagram launched its TikTok rival Reels as the Chinese social video app suffers a major blow in India and the US.
Founded in 2005, Reddit is a social news aggregation, web content rating, and discussion platform. As of October 2020, Reddit ranks as the 17th-most-visited website in the world and the 7th most-visited website in the US, according to Alexa Internet.