Social media giant Reddit acquired popular video sharing and social media service application DubsMash for an undisclosed amount. The social media giant wants to compete in the short video sharing segment of the internet which is growing exponentially over the years. Through the acquisition Reddit wants to give TikTok stiff competition which is leading the way in the short video sharing segment of the industry for a while.
Dubsmash is actually much older than tiktok. Having been founded in 2014 in Germany by Jonas Drüppel, Roland Grenke, and Daniel Taschik, the company moved to the United States in 2016. After that through the continuous improvement and innovation they designed the app from scratch and relaunched in October 2018. After that dubsmash became one of the main competitor of tik tok along with likee and byte. Dubsmash are giving tough competition to tiktok but the lack of resources came in the way of dubsmash. With the limited resources they manage to increase the user base their engagement and retention
For around a year Reddit wanted to enter into the short video sharing segment of the internet as it has seen the speedy rise of tik tok and likee in that field. Reddit wanted to capitalise on the huge user base it has and wanted a platform for itself to enter the competition. It already had enquired about the potential acquisition of triller and zynn but has been unsuccessful time and again.After a series of negotiations Reddit finally buys dubsmash and claims to strengthen the action against the racist and unethical practices in the app.
In a blog post Reddit stated that Dubsmash’s unique video creating tools will be implemented into Reddit which encourage Reddit users to make videos and represent themselves in an authentic and creative way that is common to all. Reddit highlighted the common goal of both the apps is to form community which belongs to everyone in the world.The co-founders of dubsmash Suchit Dash, Jonas Drüppel, and Tim Specht also joined Reddit team