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» Reddit is buying short-form video platform Dubsmash, becoming the latest social media sites to edge its way into a market dominated by TikTok Reddit is buying short-form video platform Dubsmash, becoming the latest social media sites to edge its way into a market dominated by TikTok Reuters,Grace DeanDec 14, 2020, 19:57 IST Reddit is buying social media platforms continue to expand into the short-form video space currently dominated by TikTok. The deal will give Reddit users access to Dubsmash's editing and short-video creation tools, but Dubsmash will still maintain its own platform and...

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...

We'll soon meet in your inbox. Please wait... "Both Reddit and Dubsmash share a deep-rooted respect for how communities come together," Reddit CEO Steve Huffman said. "Dubsmash elevates under-represented creators, while Reddit fosters a sense of community and belonging across thousands of different topics and passions," he added. About 25% of all Black teens in the US are on Dubsmash, and females represent 70% of users. About 30% of users log in every day to create video content, indicating a high level of retention and engagement. Dubsmash enables more than one billion video views per month,...