Facebook and Snap Inc were planning to buy TikTok rival Dubsmash: report

Facebook Inc and Snapchat owner Snap Inc, reportedly, held talks with TikTok rival Dubsmash. The two firms are no longer in deal talks, the report added. While Dubsmash was not immediately available for a response, Facebook said it would not comment on market speculations. “We admire the team but aren’t in active talks to acquire,” a Snap spokesperson said. Both Snap and Facebook, according to the report, approached Dubsmash for a deal. 

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