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New Delhi, Popular online discussion platform <keyword id="334157" type="COMPANY" weightage="20" keywordseo="Reddit">Reddit</keyword> has acquired short-form video social platform <keyword id="6370373" type="COMPANY" weightage="20" keywordseo="Dubsmash">Dubsmash</keyword> for an undisclosed sum.<br /><br />While Dubsmash will maintain its own platform and brand, Reddit aims to bring the teams together to combine the <keyword id="10428518" type="UNKNOWN" weightage="20" keywordseo="unique-creator-experience">unique creator experience</keyword> of Dubsmash with its own community growth engine.<br /><br />Dubsmash's entire team -- including the three co-founders, <keyword id="10428517" type="LOCATION" weightage="20" keywordseo="suchit-dash">Suchit Dash</keyword>, Jonas Druppel and Tim Specht -- will join Reddit.<br /><br />"Both Reddit and Dubsmash share a deep rooted respect for how communities come together," Steve Huffman, CEO, Reddit, said in a statement late on Sunday. <br /><br />"Dubsmash elevates under-represented creators, while Reddit fosters a sense of community and belonging across thousands of different topics and passions," he added.<br /><br />The company said it will integrate Dubsmash's innovative video creation tools into Reddit, which will empower Reddit's own creators to express themselves in original and authentic ways.<br /><br />About 25% of all Black teens in the US are on Dubsmash, and females represent 70% of <keyword id="66720" type="PERSON" weightage="20" keywordseo="users">users</keyword>. About 30% of users log in every day to create <keyword id="3368132" type="PERSON" weightage="20" keywordseo="video-content">video content</keyword>, indicating a high level of retention and engagement.<br /><br />Dubsmash enables more than one billion video views per month.<br /><br />On the other hand, Redditors have posted millions of videos, increasing two times in 2020.<br /><br />Dash who is Head of Dubsmash said: "We want to continue our journey to bring best in class video products to our users, and now Reddit users". <br /><br />"We believe in the idea of connecting creators around interests and topics, something Reddit has pioneered, in our growing Dubsmash community."<br /><br />Reddit earlier this month revealed that it now has 52 million daily active users.<br /><br />Founded in 2005, the San Francisco-based company is known for its "ask me anything" digital town halls with celebrities and politicians.<br /><br /><strong>SEE ALSO:<br /><a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-future-retail-power-grid-cipla-delta-corp-yes-bank-adani-power-and-others/articleshow/79713824.cms">Top stocks to watch — Future Retail, Power Grid, Cipla, Delta Corp, Yes Bank, Adani Power and others</a><br /><a href="https://www.businessinsider.in/stock-market/news/burger-king-india-shares-nearly-doubles-on-listing-debut-pushes-valuation-past-4000-crore/articleshow/79715269.cms">Burger King India shares nearly doubles on listing — debut pushes valuation past ₹4,000 crore</a><br /><a href="https://www.businessinsider.in/business/startups/news/the-difference-between-doordash-zomato-and-swiggy-is-not-in-what-the-companies-do-its-where-they-do-it/articleshow/79715531.cms">The difference between DoorDash and Indian peers Zomato and Swiggy is not in what the companies do⁠ — it’s where they do it</a></strong><br />

Reddit acquires short-video making platform Dubsmash

<ul class="summary-list"><li><keyword id="334157" type="COMPANY" weightage="60" keywordseo="Reddit">Reddit</keyword> is buying <keyword id="6370373" type="UNKNOWN" weightage="60" keywordseo="Dubsmash">Dubsmash</keyword>, it announced Sunday, as <keyword id="6354632" type="UNKNOWN" weightage="60" keywordseo="social-media">social media</keyword> platforms continue to expand into the short-form video space currently dominated by <keyword id="6762469" type="UNKNOWN" weightage="60" keywordseo="TikTok">TikTok</keyword>.</li><li>The deal will give Reddit users access to Dubsmash's editing and short-video creation tools, but Dubsmash will still maintain its own platform and brand.</li><li>The companies didn't disclose the financial terms of the deal, but a spokeswoman for Reddit told <keyword id="76338" type="CITY" weightage="60" keywordseo="Reuters">Reuters</keyword> the acquisition was based on a combination of cash and stock.</li><li>Dubsmash's entire team will join Reddit "immediately." </li></ul><p>Reddit is buying US short-video platform Dubsmash, <a href="https://redditblog.com/2020/12/13/reddit-welcomes-video-platform-dubsmash-to-team/">the social network firm said Sunday</a>, becoming the latest company to expand in a space dominated by Chinese-owned TikTok.</p><p>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.</p><p>The success of ByteDance's TikTok has prompted many social media companies to add short-video services to their platforms, with <a href="https://www.businessinsider.com/snap-tiktok-like-feed-spotlight-2020-11">Snapchat rolling out "Spotlight" in November</a> and <a href="https://www.businessinsider.com/instagram-reels-tiktok-competitor-short-video-us-launch-explainer-2020-7">Facebook launching "Instagram Reels" earlier this year</a>.</p><p><a href="https://redditblog.com/2020/12/13/reddit-welcomes-video-platform-dubsmash-to-team/">Reddit said</a> the deal would give its users, who can already upload and stream videos, access to Dubsmash's editing and short-video creation tools.</p><p>Reddit also highlighted Dubsmash's diverse userbase, which is more than two-thirds female, and added that around 25% of all Black teens in the US are on Dubsmash.</p><p>"It's clear that our missions closely align and that our community-focused platforms can coexist and grow as we learn from each other," Reddit CEO Steve Huffman said.</p><p>The San Francisco-based company added that Dubsmash would maintain its own platform and brand.</p><p>Dubsmash's entire team, including co-founders Suchit Dash, Jonas Drüppel, and Tim Specht, will join Reddit "immediately."</p><p><em><strong>Read more:</strong> <a href="https://www.businessinsider.com/how-much-money-tiktok-influencers-get-paid-for-brand-sponsorships-2020-12?r=gd-sub">How much money do TikTok stars make? 10 creators break down what they earn from brand sponsorships.</a></em></p><p>Dubsmashed launched in Germany in 2014, and relocated to New York in 2016. It now has <a href="https://redditblog.com/2020/12/13/reddit-welcomes-video-platform-dubsmash-to-team/">more than 1 billion video views per month</a>.</p><p>Reddit is growing, too. Last month, Insider Intelligence estimated that <a href="https://www.businessinsider.com/reddit-user-base-will-grow-amid-pandemic-election-news-2020-11">Reddit had seen a sharp acceleration in US user growth</a>, with the number of monthly logged-in users in the US growing by over a quarter from last year to reach 37.7 million in 2020.</p><p>This will be because of both demand for entertainment and connection during lockdowns, and "the higher volume of news in 2020, due to both the pandemic and the fraught election cycle," according to Peter Newman, eMarketer senior forecasting analyst at Insider Intelligence.</p>

Reddit is buying short-form video platform Dubsmash, becoming the latest social media sites to edge its way into a market dominated by TikTok

<div type="image" title="Image courtesy- Twitter" msid="54050313" hostid="261" caption="&amp;lt;p&amp;gt;In a first, an Indian couple wish to receive their wedding &amp;#8216;blessing&amp;#8217; via PayTM wallet.&amp;lt;/p&amp;gt;"></div>




















<br />The <keyword id="6357120" type="UNKNOWN" weightage="20" keywordseo="PayTM">PayTM</keyword> wallet has found its way into the ‘great Indian wedding’. Lending a dash of digital, first of its kind in Indian <keyword id="6367159" type="COMPANY" weightage="20" keywordseo="Weddings">weddings</keyword>, a couple Anya and Suchit, have given the option to their relatives and friends of sending their wedding <i>blessing gift </i>or<i> shagun </i>digitally through the PayTM wallet. Through this initiative, the couple aim to promote a cashless and digital economy. <br /><br />Anya and Suchit have successfully shared their PayTM QR Code, on their wedding card, which can be scanned and the money can be transferred in seconds. This is one of the most efficient ways to collect, track and safe-keep the money that is received as <i>shagun in</i> Indian marriages.<br /><br />A cashless wedding is not only environment-friendly but using a <keyword id="418872" type="UNKNOWN" weightage="20" keywordseo="digital-wallet">digital wallet</keyword> helps keep a track of the exchange better. It also promotes the modern trend of integrating smartphones and mobile apps in wedding planning. A similar trend was seen during recent Eid and Rakhi festivals where digital Eidi and Rakhi gifts to sisters were given through digital wallets. <br /><br /> <br /><br />

In a first, an Indian couple wish to receive their wedding ‘blessing’ via PayTM wallet.

<p></p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div>Dubsmash quickly became an overnight success when it&#xa0;<a href="http://www.businessinsider.com/how-to-use-the-dubsmash-lip-sync-app-2015-7" target="_blank">debuted in late 2014</a>.<p>The app let&#xa0;users create videos of themselves lip syncing to popular songs or movie lines. But unlike Instagram or Vine, these videos, called "dubs," weren't shared directly onto Dubsmash. They were meant to go viral on other platforms.&#xa0;</p><p>But, 100 million users and countless celebrity dubs later, Dubsmash is changing its tune.</p><p>Last month, the app was completely revamped to become&#xa0;a full-fledged messaging service. Dubsmash now lets&#xa0;users send private&#xa0;messages and videos to individuals and groups. Dubsmash also added Profile Dubs,&#xa0;which let&#xa0;users highlight their favorite dub and connect with friends, in addition to some new features that help users easily find videos and audio.&#xa0;</p><p>As Dubsmash's president Suchit Dash told Tech Insider, it's all part of a plan to transform Dubsmash into the premiere&#xa0;video messaging platform.&#xa0;</p><p><div>    </div></p><p>"A lot of people associated Dubsmash with karaoke and lip-syncing," Dash said. "We think people, more and more, are going to communicate through video. A<span style="font-weight: 400;">nd we want to be the primary way people do that."</span></p><p><span style="font-weight: 400;">Celebrities have been central to Dubsmash's success.&#xa0;A number of famous faces posted dubs made by the app to their Instagram feeds.&#xa0;</span><span style="font-weight: 400;">Jimmy Fallon, to the surprise of Dubsmash, asked Selena Gomez to make a dub during an appearance on "The Tonight Show." (He's since repeated the segment with Kate Hudson and Penelope Cruz.) And&#xa0;Rihanna teamed up with Dubsmash to debut her 2015 <a href="http://mashable.com/2015/03/26/rihanna-bbhmm-dubsmash-app-r8/" target="_blank">single "Bitch Better Have My Money" exclusively on the app.&#xa0;</a></span></p><p><span style="font-weight: 400;"><div></div></span></p><p>But Dubsmash&#xa0;observed something interesting:&#xa0;Most of its users were actually sharing their dubs privately among friends, rather than on public forums.</p><p>"They were people using dubs almost as a replacement of an emoji," Dash said. "So,&#xa0;Dubsmash 2.0 is really about giving people space for them to connect with their friends."</p><p>Since Dubsmash 2.0 launched on May 17, the app has&#xa0;seen 500,000 friend connections made each day and two dubs sent inside the application per second, according to data provided by Dash.</p><p>But of course, if Dubsmash wants to be the primary video messaging service, it will have to dethrone Snapchat.&#xa0;And that won't be an easy feat. In January, Snapchat confirmed to the Financial Times that <a href="http://www.ft.com/intl/cms/s/0%2Fa48ca1fc-84e7-11e5-8095-ed1a37d1e096.html?ft_site=falcon&amp;desktop=true#axzz4AutVGScz" target="_blank">the app has 6 billion video</a> views per day on its platform.&#xa0;</p><p></p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div><p>When Tech Insider asked about the inevitable comparisons to Snapchat, Dash said he considers the permanency of the dubs created on the app as a significant advantage.</p><p>"What's amazing is the number of people that come back to see their dubs, almost like a work of art that they once created. It's a very lasting format," Dash said. "And we find users&#xa0;want that level of history."</p><p>Dash says that Dubsmash is continuing to test new features, including tools focused on facial recognition,&#xa0;some of which users can expect this summer. Dubsmash will also be looking to form more partnerships with media and entertainment companies so they can promote their content with dubs on the app, similar to Snapchat's Discover platform.</p><p>But expect video messaging to remain Dubsmash's main focus.</p><p>"We want users to continuously come to the application and continuously create," Dash&#xa0;said. "And messaging is the best way to make sure that there's constant creation happening."</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/iphone-best-hidden-features-2016-5">These hidden features will make your iPhone so much better</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="xrMGNpMDE6CKt8yh4WEuOI2f6YOymI7R" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

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Reddit acquires short-video making platform Dubsmash

IANS

Reddit is buying short-form video platform Dubsmash, becoming the latest social media sites to edge its way into a market dominated by TikTok

Reuters,Grace Dean

In a first, an Indian couple wish to receive their wedding ‘blessing’ via PayTM wallet.

Tanya Dubey

This popular lip synching app is aggressively coming after Snapchat - and it has one big advantage

Samantha Cooney

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