• Home
  • Apps
  • Triller Owner Said to Be in Merger Talks to Go Public

Triller Owner Said to Be in Merger Talks to Go Public

The transaction could be announced as soon as this week.

Triller Owner Said to Be in Merger Talks to Go Public

Triller allows users to create and share short-form videos

Highlights
  • Triller was launched in 2015
  • Triller no more reports daily/monthly active users for short video app
  • TrillerNet claimed to have over 300 million users globally

TrillerNet, the owner of the short video app Triller, is in talks to go public through a merger with Seachange International, according to a person familiar with the matter. As part of the deal, investors have committed to invest $250 million (roughly Rs. 1897.48 crore) at a valuation for TrillerNet of $5.1 billion (roughly Rs. 38,711 crore), according to the person.

The transaction could be announced as soon as this week, said the person, who asked not to be identified because the deliberations are confidential. The source cautioned that talks could fall apart at the last minute.

A Triller spokesman declined to comment. A Seachange representative did not immediately respond to request for comment. Bloomberg first reported on the talks.

Launched in 2015, Triller has been diversifying beyond short video apps to live events, mobile gaming and pay-per-view streaming. In a sign it no longer views itself as a direct competitor to TikTok, Triller stopped reporting daily or monthly active users for its short video app.

TrillerNet said earlier this year it has more than 300 million users worldwide across its platforms. It has been on an acquisition spree in recent months, snapping up livestreaming music platform Verzuz, combat sports game streaming service Fite TV and marketing platform Amplify.ai.

TrillerNet also owns Triller Fight Club, a live-event platform in partnership with rapper Snoop Dogg and operates TrillerTV, a long-form content streaming platform with more than 65 original shows.

TrillerNet's projected revenue for 2021 is more than $250 million, TrillerNet's CFO Paul Kahn told Reuters in April. Acton, Massachusetts-based Seachange is a provider of video delivery, advertising, and streaming platforms. It has a market capitalization of $84 million (roughly Rs.637.5 crore)


Why does Redmi refresh its phones so soon? We discuss this on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.
Comments

For the latest tech news and reviews, follow Gadgets 360 on Twitter, Facebook, and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel.

Elon Musk Dismisses Bitcoin, Announces Tesla Will Accept DOGE for ‘Merch’
Share on Facebook Tweet Snapchat Share Reddit Comment
 
 

Advertisement

Advertisement

© Copyright Red Pixels Ventures Limited 2022. All rights reserved.