Reddit has acquired “short-form video social platform” Dubsmash, the company announced today. Under the terms of the deal, the TikTok rival will continue to exist as a separate platform and brand, but its “innovative video creation tools” will be integrated into Reddit. Although Reddit has supported native video uploads since 2017, its video-editing tools are limited, and much of the video content posted on the platform is hosted elsewhere.
In a post announcing the acquisition, Reddit said it is looking forward “to bringing our teams together to combine the unique creator experience of Dubsmash with the community growth engine of Reddit.” The sum paid for the New York-based company was not disclosed as part of the announcement.
“Dubsmash provides a welcoming platform for creators and users who are under-represented in social media”
According to data from App Annie reported by TechCrunch earlier this year, Dubsmash’s share of the USA’s short-form video market is second only to TikTok. Although its co-founder and president, Suchit Dash, declined to share the service’s total number of users in an interview with The Wall Street Journal, its videos are reportedly viewed over a billion times per month, and 30 percent of its users log on daily to create videos. Reddit, meanwhile, recently disclosed that 52 million users are active on its platform daily.
Reddit specifically cites Dubsmash’s diverse user base as one of the reasons for its acquisition. According to Reddit around 25 percent of Black teenagers in the US use the service, and that 70 percent of its users are female. “Dubsmash provides a welcoming platform for creators and users who are under-represented in social media,” Reddit’s announcement notes.
Earlier this year, Reddit said it would be making efforts to address hate speech on its platform following protests and the resignation of one of its co-founders. When Alexis Ohanian resigned, he asked for his position to be filled by a Black candidate. He was subsequently replaced by Y Combinator CEO Michael Seibel.