Reddit did not buy Tapsmash, America’s biggest competitor. Announced on Monday.
In this announcement, Tapsmash is a “beautiful and fun product that enables their users to create unique, dynamic, interactive content” and “is connected to Reddit’s own purpose of bringing community and belonging to everyone in the world.” Although the deal will provide Redd access to its new subsidiary’s video technology and user platform, Tapsmash will operate by default.
The Tapsmash acquisition gives Reddit a natural meaning The dream that is going on Attempts to acquire a large stake in business software company Oracle Dictock Made threats On its Chinese ownership. Reddit was a huge success with its streaming experiment Reddit Public Access Network, Which recently advanced plans to transform RPAN into a 24/7 service Available to all users. However, other video content on the site may need to be hosted externally.
Tapsmash is growing rapidly and is now second only to Dictoc in the United States in terms of short format video application capabilities. According to Tech Crunch. It works best with women and black and Latin users (who were sometimes the real source) Virus Dictoc memes.)
Sucid Dash, co-founder and CEO of Tapsmash, said The Wall Street Journal The application focuses on the “other side of the web”. 70% of its users are women, Dash said, and the company claims that a quarter of all black teens in the United States are Tapsmash users. Data from Earlier this year Analyst App Annie has shown that Tapsmash accounts for about 27% of installations in the US short format video market, with more than a billion views per month.
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Reddit has a long and well-documented history Racist users and CommunitiesECCO Steve Huffman also said there was “no open racism, including slander” Against its rules In 2018 its executives said it would redouble its efforts to revise it recently. Earlier this year, reviewers of more than 650 subscribers, representing about 200 million users, wrote an open letter saying, “The issue of Reddit’s leadership has long been an issue of supporting and providing a platform for racist users and hateful communities.” Evaluators have called for an immediate end to racist subdivisions and a “site-level policy against racism, slander and hate speech.”
Co-founder Alexis Ohanian Resigned At the same time and asked that his board seat be filled by a black man; This seat was eventually filled by the venture boss Michael Siebel, To whom Champion diversity In the field of technology. In the announcement, Reddit sought to make a clear connection between it Late attempt To Crack down Regarding toxic communities and the diversity of Tapsmash’s user base.
Tapsmash is “a welcome platform for creators and users who are not represented on social media,” Reddit wrote.
According to the journal, Huffman said the acquisition would launch Reddit’s efforts to compete with video, especially by providing access to advanced video editing tools.
“The price of video is going down, the technology to record and encrypt it is getting better and better, and on the ad page, video ads are going to be very effective,” Huffman told the paper. “They are more visceral and committed.”