The company reported today that Reddit has purchased the “short-form video social platform” Dubsmash.
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 merged into Reddit.
While native video uploads have been supported by Reddit since 2017, its video editing capabilities are restricted and most of the video content posted on the site 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 business was not revealed.
Dubsmash’s share of the USA’s short-form video market is second only to TikTok, according to details from App Annie published by TechCrunch earlier this year.
While its co-founder and president, Suchit Dash, in an interview with The Wall Street Journal, declined to disclose the total number of users of the app, its videos are reportedly viewed over a billion times each month, and 30 percent of its users log on daily to create videos.
In the meantime, Reddit recently announced that 52 million users are active every day on its website.
As one of the reasons for its acquisition, Reddit explicitly cites Dubsmash’s diverse user base. Around 25 percent of black teenagers in the US use the app, according to Reddit, and 70 percent of its users are female.
“Dubsmash provides creators and users who are under-represented in social media with a welcoming platform,” Reddit’s announcement states.
Reddit said earlier this year that, after demonstrations and the resignation of one of its co-founders, it will make attempts to counter hate speech on its website.
When Alexis Ohanian resigned, he called for a black nominee to fill his place. Subsequently, Y Combinator CEO Michael Seibel replaced him.