Reddit Acquires TikTok/Triller Rival Dubsmash

Reddit has acquired Dubsmash, the lipsyncing video app which launched in 2014 and was largely supplanted when TikTok showed up. 

Announced via Reddit’s blog on Sunday, the annexing of Dubsmash’s 12-person team to Reddit’s 700-strong horde is the popular website’s first major acquisition in its 15-year history.

While the financial terms of the agreement haven’t been disclosed, Dubsmash will be keeping its own platform and separate branding. Dubsmash’s Android and Apple apps will continue to operate as normal, with its video creation tools simply integrated into Reddit’s infrastructure. 

Reddit currently allows users to upload and livestream videos, however its editing capabilities are somewhat lacklustre — a problem this acquisition hopes to address.

“The transition to video will be bigger than the transition to mobile,” Reddit co-founder and CEO Steve Huffman said, speaking via the Wall Street JournalWhich sounds fake, but okay. Pivots to video historically haven’t worked out well, but perhaps the distinction between editorial and user-created content will yield better results.

Dubsmash went through a slow decline in the wake of its 2015 popularity boom, before revamping itself in 2017 to stage an unlikely comeback. While still not as successful as TikTok, the short-form video app established a significant audience by focusing on the one demographic still using it — Black teenagers in the U.S

As such, both Reddit and Dubsmash’s acquisition announcements heavily emphasised the diverse, underrepresented creators who use the app. According to Reddit, a quarter of Black teens in the U.S. use Dubsmash, while 70 percent of users are women or girls.

“By joining forces with Reddit, we expand our ability to serve the creators that represent the lifeblood of Dubsmash, helping them connect, share, and deepen their impact on culture,” wrote Dubsmash co-founders Suchit Dash, Jonas Drüppel and Tim Specht. The trio further reaffirmed their goal to “[create] a safe and welcoming platform for underrepresented communities.”

“Both Reddit and Dubsmash share a deep rooted respect for how communities come together,” said Huffman. “Dubsmash elevates under-represented creators, while Reddit fosters a sense of community and belonging across thousands of different topics and passions.”

Source: Mashable

The U Experience, a startup focused on providing university students a traditional college experience with bubble-style resort campus, moves to Boca Raton Florida (Waterstone Resort & Marina) for fall semester after local outrage from Hawaii bubble hotel plans

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Editor’s Note: On August 17, one day after this story was published, The U Experience announced it would host its program at the Waterstone Resort & Marina in Boca Raton, FL.

Last week, two Princeton alumni garnered national attention for plans to create two ‘bubble’ campuses in Hawaiʻi and Arkansas, just as the University announced that all fall instruction would be remote.

After widespread backlash from local Hawaiʻi residents, the alumni’s business idea, titled ‘The U Experience,’ will no longer come to fruition at either property.

Lane Russell ’18 and Adam Bragg ’16 started The U Experience in response to many colleges’ decisions to conduct fully virtual fall semesters. They planned to house about 150 college students, who would take classes online in a ‘bubble’ hotel, where they could “come to live out the college experience with total peace of mind,” according to the company’s website.

On the same day Russell appeared on CNN, a seven-member team of Hawaiʻi residents published a Change.org petition titled “Stop Bringing Nonresident Students to Hawaiʻi During a Pandemic,” which garnered over 11,000 signatures in just three days.

According to Lexi Figueroa, who helped write the petition, the authors also received an outpouring of support from non-residents, including University alumni, who expressed opposition to The U Experience, citing the “selfish, irresponsible, and disrespectful nature of this project.”

“We only have 340 ICU beds to service the entire population of Oʻahu,” the team behind the petition wrote to the ‘Prince.’ “A single outbreak in a The U Experience ‘bubble’ would deplete nearly half of our health resources.” In total, Oʻahu has a population of nearly one million.

On Aug. 11, the U Experience announced that it had suspended plans with Park Shore Waikīkī and Graduate Fayetteville — just four days after the Business Insider feature.

In their Aug. 11 update, The U Experience team maintained, “our goal is to disrupt education, not local communities.”

Source: Business Insider