Reddit Acquires Dubsmash

TECH CRUNCH - Dec 15 - Reddit announced that it has acquired a short video platform Dubsmash. The deal's terms were undisclosed. Dubsmash will retain its own platform and brand, and Reddit will integrate its video creation tools. Its co-founders, Suchit Dash, Jonas Drüppel, and Tim Specht, will join Reddit. The app has raised $20.2 million from investors including Lowercase Capital, Index Ventures, Eniac Ventures, Heartcore Capital, and Sunstone Life. Reddit linked its acquisition of Dubsmash to its inclusion efforts. Much of Reddit's content is still text-based, however, with video, gifs, and images often shared from other sources, so Dubsmash's integration can help Reddit build out its own video platform.