Social network firm Reddit announced that it would buy short-video platform Dubsmash. Post acquisition, the co-founders Suchit Dash, Jonas Druppel and Tim Specht, will join Reddit.
Reddit is an online platform, enabling its users to submit links, create content, and have discussions about the topics of their interest.
The financial terms of the deal were not disclosed, but a spokeswoman for Reddit said the acquisition was based on a combination of cash and stock.
Reddit said in a blog post that the deal would give its users, who can already upload and stream videos, access to Dubsmash’s editing and short-video creation tools.
The San Francisco-based company added that Dubsmash would maintain its own platform and brand.
Founded in 2014 by Daniel Taschik, Jonas Druppel, Roland Grenke, and Tim Specht, Dubsmash is funded by top-tier investors such as General Catalyst and Index Ventures.
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