Reddit announced today that it has acquired short-form video sharing app Dubsmash. The deal’s financial terms were not disclosed. While Dubsmash will retain its platform and brand, Reddit will integrate Dubsmarsh’s video creation tools into its platform to empower Reddit users to “express themselves in original and authentic ways.”
TikTok-rival Dubsmash has raised $20.2 million from investors including Sunstone Life, Lowercase Capital, and Index Ventures.
we are so excited to announce that we’ll be joining forces with Reddit! ty to all our dubsmashers for being a part of this incredible journey. we’re so honored to join a company whose focus is also building thriving communities. <3 https://t.co/o6FKD045xt— Dubsmash (@dubsmash) December 14, 2020
Reddit said in a statement that Redditors have posted millions of videos since the first launch of native video on the platform in 2017. The number of videos posted on Reddit has increased by 2x in 2020.
“Both Reddit and Dubsmash share a deep rooted respect for how communities come together,” said Steve Huffman, CEO, Reddit. “Dubsmash elevates under-represented creators, while Reddit fosters a sense of community and belonging across thousands of different topics and passions. It’s clear that our missions closely align and that our community-focused platforms can coexist and grow as we learn from each other.”
Unlike TikTok, Dubsmash is known for its large communities of Black and Latinx creators. “Dubsmash’s communities are driven by young, diverse creators—about 25 percent of all Black teens in the U.S. are on Dubsmash, and females represent 70 percent of users. About 30 percent of users log in every day to create video content, indicating a high level of retention and engagement, and Dubsmash enables more than one billion video views per month, demonstrating the strength of its communities.“
Dubsmash’s entire team including the three co-founders, Suchit Dash, Jonas Drüppel, and Tim Specht will join the Reddit team.
“In our years of building Dubsmash, we’ve learned how video can spark creativity, unlock interactions, and deepen connections within communities” said Suchit Dash, Head of Dubsmash. “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.”