The short video app Triller will be released in a reverse merger with video technology company SeaChange International. announcement on Wednesday. The integrated entity is worth about $ 5 billion. The boards of directors of both companies approve the proposed merger, and the transaction is expected to close in the first quarter of 2022, subject to regulatory and shareholder approval.
Like TikTok, Triller allows users to create and share short videos set for music. The Los Angeles-based company was first launched in 2015 and the app has been downloaded more than 250 million times. Triller attracts many prominent users such as Justin Bieber, Marshmello, The Weeknd, Alicia Keys, Cardi B, Eminem, Post Malone and Kevin Hart. The app has also signed up with popular TikTok users such as Charli D’Amelio and Noah Beck. Former US President Donald Trump has also used the app, but hasn’t posted any new videos on the platform since January.
After the merger is complete, SeaChange will rename it to TrillerVerz Corp. Based in Acton, Massachusetts, the company has demonstrated its position as a supplier of video delivery software solutions that enhance its cloud and on-premises video delivery platforms. The merged company will be led by Mahi de Silva, CEO of Triller’s parent company. SeaChange President and CEO Peter Aquino joins the Triller Verz team.
“We believe Triller Verz is becoming the voice of youth culture, a brand that connects content, creators, commerce and culture in the digital world,” de Silva said in a statement. “Our strategy is to continue to build the world’s largest stage for delivering and monetizing viral and engaging content that provides creators with a culturally enhancing experience. Combined with SeaChange, cables and satellites. , We believe that expanding our reach to OTT media will accelerate our advertising and marketing capabilities. “
According to both companies, TrillerVerz is in a position to become the leading AI-powered social media platform for content, creators and commerce. TrillerVerz plans to expand its revenue streams by increasing its global footprint and investment in new growth opportunities across the creator economy and emerging technologies.
“The business combination with Triller Verz represents a great opportunity to invest in the future of creativity,” SeaChange CEO Peter Aquino said in a statement. “Triller Verz’s unparalleled social media reach, Gen Z involvement, and the opportunity to significantly expand its global multi-platform presence across content, commerce and creators and to be at the forefront of NFTs, including e-commerce, ad tech and NFTs. I believe there is. Metaverse is an attractive investment that can create great value. “
The news of the merger comes from Triller and its parent company expanding their social video platform over the past year. Last month, Triller Won Thuzio, a company focused on inter-company premium influencer events and experience.
April, Triller Won Amplify.AI, an AI-based customer engagement platform, works with brands such as CPG, financial services, automotive, telecommunications, politics and digital media.In the same month, Triller too Won FITE TV, live event and pay-per-view martial arts streaming platform. In March, Triller acquired Verzuz, a live music streaming platform founded by Swizz Beats and Timbaland.
TikTok rival Triller to go public via merger with SeaChange International – TechCrunch Source link TikTok rival Triller to go public via merger with SeaChange International – TechCrunch
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