Reddit has acquired short-form video social platform Dubsmash for an undisclosed sum.
Dubsmash’s entire team will be joining the company, including the three co-founders, Suchit Dash, Jonas Drüppel, and Tim Specht, starting immediately.
Dubsmash will maintain its own platform and brand and Reddit plans to integrate Dubsmash’s video creation tools into its platform, according to a blog post announcing the news.
Elsewhere in the announcement, Reddit states that Dubsmash’s “mission is to elevate under-represented creators”.
“They have built a beautiful and fun product that enables their users to create unique, dynamic, interactive content,” adds the post.
According to the announcement, ‘about 25% of all Black teens in the US are on Dubsmash, while ‘females represent 70% of users’.
About 30% of users log in every day to create video content and Dubsmash enables more than one billion video views per month, demonstrating the strength of its communities.
Reddit first launched native video in 2017. and claims to have seen “tremendous growth and organic community adoption” since then.
“Both Reddit and Dubsmash share a deep rooted respect for how communities come together.”
Steve Huffman, Reddit
Steve Huffman, CEO, Reddit, said: “Both Reddit and Dubsmash share a deep rooted respect for how communities come together.
“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.”
“In our years of building Dubsmash, we’ve learned how video can spark creativity, unlock interactions, and deepen connections within communities.”
Suchit Dash, Dubsmash
Suchit Dash, Head of Dubsmash, added: “In our years of building Dubsmash, we’ve learned how video can spark creativity, unlock interactions, and deepen connections within communities.
“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.”Music Business Worldwide