Reddit to buy short-video platform Dubsmash to become the latest entry into the space dominated by TikTok and have new entrants likes Snapchat and Facebook’. Details of the financial transaction were not disclosed but the acquisition was based on a combination of cash and stock. Dubsmash, founded in 2013 and has over 196.8 mn downloads globally. Dubsmash’s entire team, including co-founders Suchit Dash, Jonas Drüppel, and Tim Specht, will join Reddit.

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