The Reddit announced the Dubsmash market, a move that shows the platform 's interest in the global video-sharing market.
Dubsmash is a small company founded in 2014 in New York by them Suchit Dash, Jonas Drüppel and Tim Specht. The company has created applications Android and iOS, which allow users to create special videos with voices and sounds from series, movies, etc.
The financial terms of its purchase by Reddit have not been made public.
When one thinks of video content, it is created by users, the first application that comes to mind is TikTok. The Chinese platform, owned by ByteDance, has been hugely successful in recent years, especially in recent months, as many people have had more free time due to quarantine. However, TikTok has been considered threat to the “national safety”Of USA, forcing ByteDance to begin the process of selling its US assets to US companies.
However, Dubsmash is one of the few applications in the market that are considered rivals of TikTok. The company claims that its applications have more than 350 million installations and more than six billion videos have been created.
TikTok has about 50 million daily active users on USA, but if Reddit's 52 million daily users start using Dubsmash, TikTok could lose its dominance.
"Video is increasingly central to the way people want to connect and as we continue to grow our community, we are committed to providing the best possible tools for users to interact with each other via videoSays Reddit. "We also look forward to joining our teams to combine Dubsmash's unique creator experience with Reddit's community growth engine".
In accordance with the terms of the agreement, Dubsmash will maintain its own brand and platform her.
In a blog post on Medium, which reveals the market, Dubsmash co-founders said that company will continue to focus on tool development, "creating a secure and welcoming platform for communities not represented on social media".
"Both Reddit and Dubsmash share a deep respect for how different communities come together.", Commented the CEO of Reddit, Steve Huffman. "Dubsmash upgrades the under-represented creators, while Reddit cultivates a sense of community in thousands of people with different interests and passions. It is clear that our goals are aligned κai that the platforms community-focused can coexist and grow as we learn from each other".