Reddit acquires short-video making platform Dubsmash.
Popular online discussion platform Reddit has acquired short-form video social platform Dubsmash for an undisclosed sum. While Dubsmash will maintain its own platform and brand, Reddit aims to bring the teams together to combine the unique creator experience of Dubsmash with its own community growth engine.
Dubsmash's entire team -- including the three co-founders, Suchit Dash, Jonas Druppel and Tim Specht -- will join Reddit. "Both Reddit and Dubsmash share a deep rooted respect for how communities come together," Steve Huffman, CEO, Reddit, said in a statement late on Sunday.
"Dubsmash elevates under-represented creators, while Reddit fosters a sense of community and belonging across thousands of different topics and passions," he added. The company said it will integrate Dubsmash's innovative video creation tools into Reddit, which will empower Reddit's own creators to express themselves in original and authentic ways.
About 25 per cent of all Black teens in the US are on Dubsmash, and females represent 70 per cent of users. About 30 per cent 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. On the other hand, Redditors have posted millions of videos, increasing two times in 2020.
Dash who is Head of Dubsmash said: "We want to continue our journey to bring best in class video products to our users, and now Reddit users". "We believe in the idea of connecting creators around interests and topics, something Reddit has pioneered, in our growing Dubsmash community."
Reddit earlier this month revealed that it now has 52 million daily active users. Founded in 2005, the San Francisco-based company is known for its "ask me anything" digital town halls with celebrities and politicians.
