Reddit Acquires Short Video Platform Dubsmash

Reddit has just announced that it has acquired the short video platform Dubsmash. It didn't reveal the deal's amount. However, Dubsmash will continue to have its own brand identity and cater to Reddit videos.

Back in 2017, Reddit had launched its native videos. The acquisition of Dubsmash will help make native videos even more intuitive. The co-founders of Dubsmash, Suchit Dash, Jonas Druppel, and Tim Specht, will join Reddit.

According to Crunchbase data, Dubsmash has also raised $20.2 million from investors, including Lowercase Capital, Index Ventures, Eniac Ventures, Heartcore Capital, and Sunstone Life.

Dubsmash, which was launched in 2014, became very popular after its launch. Within a week of the app's launch on November 19, 2014, it had reached the number one position in Germany, later reaching the same position in over 29 other countries. But after the massive success in 2015, it saw a downfall with the launch of TikTok. Later, Dubsmash also transformed itself into a social media platform. It was also in talks with Facebook and Snapchat for an acquisition.

Dubsmash's most users are of Black and Latin ethnicity, while TikTok has more White users. A report published by The New York Times suggests, the dance moves on Dubsmash are mostly copied by TikTok influencers who do not give due credit and even make more money, as TikTok has more brand reach. Reddit, too has been unable to control racial abuses on its platform but had taken a clear stand over the George Floyd incident, and Reddit has changed its logo color from orange to black. The integration of Dubsmash's video creation tools will surely allow Reddit users to express themselves in more original and authentic ways.