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Reddit has announced the acquisition of Dubsmash, a short-video app which is similar to the popular TikTok. Under the terms of the deal, Dubsmash will continue to exist as a separate platform and brand. However, its innovative video creation tools will be integrated into Reddit.
Announcing the acquisition, Reddit CEO Steve Huffman said both platforms share a deep-rooted respect for how communities come together. “Dubsmash elevates underrepresented creators, while Reddit fosters a sense of community and belonging across thousands of different topics and passions,” he pointed out. “Its clear that our missions closely align and that our community-focused platforms can coexist and grow as we learn from each other.”
Dubsmash, the New York-based startup hasn’t disclosed the size of its user base, but says about 30 per cent of users log in daily to create video content. Suchit Dash, Dubsmash’s co-founder and president, said over the years they have learned how video can spark creativity, unlock interactions, and deepen connections within communities. “We have to continue our journey to bring best-in-class video products to our users, and now Reddit users,” he said. “We believe in the idea of connecting creators around interests and topics, something Reddit has pioneered, in our growing Dubsmash community.”
Dubsmash, which was founded out of Berlin in 2014, was a viral sensation. The app’s early incarnation allowed users to record selfie lip-sync videos to famous movie quotes and sound bites from across pop culture. It was catapulted into the public eye by celebrities like Rihana, Penelope Cruz and Jimmy Fallon through unofficial endorsements. The company raised a $5.5 million Series A round, in August 2015, led by Index Ventures. However, the platform hit rock bottom with Dash being quoted by Forbes in 2019 saying, “We are just a creator utility, and were struggling to find a daily use case. Most of our customers dropped out after 30 days.”