If asked to choose the hottest app of 2020, most people would probably pick TikTok. The app, owned by China’s ByteDance, made headline after headline this year—sometimes for political reasons, but much of the time because social media rivals were trying everything to emulate it. And now one such rival has been snapped up by another. Reddit has announced that it is buying TikTok rival Dubsmash.
Though not as popular as TikTok, Dubsmash appeals to the same young audience. The app allows users to shoot, upload, and edit short-form videos to share with their followers. Dubsmash was founded in Germany in 2014, and in recent years has grown more popular—especially with certain demographics of young people. Reddit says 70% of Dubsmash’s content creators are female, and about 25% of all Black teenagers in the U.S. use the platform. Currently, content shared on Dubsmash generates more than 1 billion views per month.
Reddit says that it will be keeping the Dubsmash app and brand separate from the Reddit brand, however, Dubsmash’s popular video editing tools will be integrated directly into the Reddit app to advance its own video services. Reddit launched native video support in 2017 and says that in 2020 video uploads to the site doubled. The company hopes that by integrating Dubsmash’s editing tools that growth trend will only accelerate.
Announcing the acquisition by Reddit, Dubsmash’s cofounder Suchit Dash said: “In our years of building Dubsmash, we’ve learned how video can spark creativity, unlock interactions, and deepen connections within communities. 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.”
And if there’s one thing Reddit is good at, it’s growing communities. The site is currently the seventh-most-visited site in the U.S., according to Alexa, with over 130,000 active communities and 430 million average monthly active users. In total, Reddit has over 21 billion screenviews a month.
Update: When reached for comment, a Reddit spokesperson confirmed the deal has fully closed and involved a combination of cash and stock, but would not disclose the total value of the deal.