Reddit just acquired short-form video social media platform Dubsmash. Financial details of the deal were not disclosed.
Reddit plans to incorporate the TikTok rival’s tools in order to boost communication among its own members.
Dubsmash has long been a platform where creators can share and interact with each other’s content.
As part of the deal, the two teams at the companies will be combined to create a more immersive experience on Reddit.
The video creation tools will be incorporated into Reddit for communities to express themselves more authentically.
“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.”
Some 25% of Black teens in the US are now using Dubsmash and 70% of its users are female. Around 30% of users create video content on a daily basis which marks a very high level of engagement and retention.
“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.”
Reddit first launched native video back in 2017 and noted considerable growth of the format since then.