Dubsmash, the video-sharing social app that’s been named a rival to TikTok, has been acquired by Reddit. The terms of the transaction were not disclosed. “In the long arc of Dubsmash’s journey, this is an important milestone and pivotal moment,” said the Dubsmash founding team in a statement. “By joining forces with Reddit, we expand our ability to serve the creators that represent the lifeblood of Dubsmash, helping them connect, share, and deepen their impact on culture. We are excited to accelerate Reddit’s focus on video, bringing our tools and technology to their passionate, rapidly-growing user base and sparking evermore forms of creation.”
In the long arc of Dubsmash’s journey, this is an important milestone and pivotal moment. By joining forces with Reddit, we expand our ability to serve the creators that represent the lifeblood of Dubsmash, helping them connect, share, and deepen their impact on culture. We are excited to accelerate Reddit’s focus on video, bringing our tools and technology to their passionate, rapidly-growing user base and sparking evermore forms of creation. – Dubsmash founding team
Founded in 2014 by Daniel Taschik, Jonas Drupel, Suchit Dash, Roland Grenke, and Tim Specht, Dubsmash had raised a total of $20.2M in total reported equity funding. Investors in the company include Index Ventures, Balderton Capital, Eniac Ventures, Lowercase Capital, Heartcore Capital, Hasso Plattner Ventures, Raine Ventures, Sunstone Life Science Ventures, Chris Sacca, and Riccardo Zacconi. Dubsmash will continue to operate under its own brand within Reddit as a separate entity. The entire team is expected to join Reddit.
“Both Reddit and Dubsmash share a deep-rooted respect for how communities come together,” said Steve Huffman, CEO of 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.”
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. – Steve Huffman
