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Reddit Buys Short-Form Video Platform Dubsmash, Its First Major Acquisition
Todd Spangler NY Digital EditorReddit announced the acquisition of Dubsmash, a TikTok-like short-form video app whose mission is to “elevate underrepresented creators.”Terms of the deal weren’t disclosed. Dubsmash, founded in 2015, raised $20.2 million from investors including Eniac Ventures, Heartcore Capital, Index Ventures, Lowercase Capital and Sunstone Life, per Crunchbase.Dubsmash claims its app generates more than 1 billion monthly video views and overindexes on Black and female users.
