Reddit he said the acquisition of Dubsmash in a move that underscores the company's interest in the video-sharing market.
It was announced on Sunday by Reddit, stating that Dubsmash will fill a void for video creators and users who are underrepresented in platform of the company, which fits with Reddit's motto of wanting a community that "belongs to the whole world."
Dubsmash was founded in 2014, and is based in New York. It is a small company co-founded by Suchit Dash, Jonas Drüppel and Tim Specht. It has Android and iOS applications for users who want to add themselves to a movie, a piece of music.
Dubsmash has previously raised $20,2 million from investors. The economists terms of the Reddit purchase were not disclosed.
Η TikTok is a company that offers exactly the same services as Dubsmash. The Chinese platform, owned by ByteDance, has enjoyed great success in recent years, particularly with younger generations - but concerns about "national better safetys” of her governmentof the US forced ByteDance to start the process of selling the of its American companies in Oracle and Walmart.
Nevertheless, Dubsmash is one of the few applications on the market that is considered an equal competitor to TikTok. The company claims that its applications now have 350 million installations, with over six billion videos created by users.
TikTok has approximately 50 million daily active users in the United States. Reddit, on the other hand, has 52 million daily active users. So with the addition of Dubsmash we could expect a lot of competition with TikTok.
