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Reddit acquires short video platform Dubsmash

We probably wouldn’t have survived 2020 if not for those funny and entertaining short videos on many platforms like TikTok. Instagram introduced its new Reels feature this year to get a piece of the short video pie. Now, Reddit is entering the market by acquiring TikTok‘s rival, Dubsmash. The company said today it’s purchasing the short video app, without specifying the terms of the deal. Dubsmash was founded in 2015, and despite TikTok’s emergence, has grown at a steady pace. In January, it crossed the mark of 1 billion video views per month. In comparison, TikTok has 37 billion monthly video views just in the US.

News source ~ The Next Web