Reddit acquires Dubsmash, the TikTok competitor that's older than TikTok

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. Read more...