Reddit Dictok buys rival Tapsmash

Reddit Dictok buys rival Tapsmash
Reddit said in a statement on Sunday that it had purchased it Dictoc Competitive Tapsmash. It did not disclose the financial terms of the contract.

Tapsmash allows users to create and share video content, and it is especially popular with young, diverse audiences. About 25% of black teens in the United States use the app. According to Reddit, 70% of women are Tapsmash users, and about 30% of users log in every day.

The New York-based site is more functional than this 1 billion Video footage per month, Reddit added.

Tapsmash’s three co-founders, Suzy Dash, Jonas Troop and Tim Spect, will soon join Reddit. While Tapsmash maintains its own site and brand, its video creation tools are integrated into Reddit, which is very popular for freewheeling news boards.

Reddit has allowed users to upload and share their own videos since 2017, and this segment has grown rapidly. The company says the number of videos posted on the platform will double by 2020.

“We & # 39; re excited to accelerate Reddit’s focus on video, bringing our tools and technology to their passionate, fast – growing user base and inspiring ever-evolving forms,” Tapsmash founders said in a statement.

Social media sites have been investing heavily in short videos inspired by the successes of Digtok and Snapshot in recent years. Facebook (FB) Instagram and Google (GOOGL) YouTube has introduced their own products designed to compete with Dicto.

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About the Author: Max Grant

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