Reddit has purchased the “short-form video social platform” Dubsmash, the company announced today. The TikTok rival will continue to operate as a distinct site and brand under the terms of the contract, but its “innovative video creation tools” will be integrated into Reddit. While native video uploads have been supported by Reddit since 2017, its video editing capabilities are limited and most 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 Dubsmash’s unique creator experience with Reddit’s community growth engine.” As part of the announcement, the amount paid to the New York-based company was not disclosed.
Dubsmash’s share of the USA’s short-form video market is second only to TikTok, according to data from App Annie reported by TechCrunch earlier this year. Although its co-founder and president, Suchit Dash, in an interview with The Wall Street Journal, declined to share the total number of users of the service, its videos are reportedly viewed over a billion times per month, and 30% of its users log on daily to create videos. In the meantime, Reddit recently announced that 52 million people are active every day on its platform.
As one of the reasons for its purchase, Reddit explicitly cites Dubsmash’s diverse user base. According to Reddit, about 25% of black teenagers in the US use the service, and 70% of its users are female. “Dubsmash provides creators and users who are under-represented in social media with a welcoming platform,” Reddit’s states.
Reddit said earlier this year that it will make attempts counter hate speech on its website after protests and the departure of one of its co-founders. When Alexis Ohanian resigned, he demanded that a black nominee fill his place. He was eventually succeeded by CEO Michael Seibel of Y Combinator.