Reddit acquires the short video making app Dubsmash

Author at TechGenyz Business
Reddit Short Video Platform
Reddit Acquires Short Video Platform Dubsmash

Reddit recently announced that it has acquired the popular short video platform Dubsmash. What it means for Dubsmash is that this platform will continue with its own platform and brand, and Reddit will integrate its video creation tools.

Dubsmash is TikTok’s one of the biggest rivals; however, its fame peaked in 2015. In 2017, the HQ was moved from Berlin to Brooklyn. It ranks only second to TikTok when it comes to app installs. There were also rumors that the company was in acquisition talks with Facebook and Snap.

Dubsmash’s users and community are more diverse than that of TikTok which consists of mostly white people. Earlier this year the New York Times published an article that showed that a lot of Black and Latinx content creators are missing out on opportunities as their content is being used by TikTok users without giving the original creators their due credits.

On the other hand, Reddit too has faced flak regarding racism and issues have been raised against this platform for not doing enough to stop the hate speech. Alexis Ohanian stepped down as the CEO of Reddit last year hoping to give his sat to a worthy Black candidate. Ohanian’s position was filled by Y Combinator CEO Michael Seibel.

In an announcement made today by Reddit, it mentions, “communities are driven by young, diverse creators – about 25 percent of all Black teens in the U.S. are on Dubsmash, and females represent 70 percent of users” and that the integrations will help Reddit users to “express themselves in original and authentic ways that are endemic to our communities.”

Although Reddit is mostly text-based still, the integration is likely to help Reddit build its own video platform. The exact terms and conditions for this acquisition have not been made public yet, but Dubsmash co-founders, Suchit Dash, Jonas Drüppel, and Tim Specht will join Reddit.