TikTok rival Triller to go public via merger with SeaChange International – TechCrunch

The short video app Triller is expected to go public through a reverse merger with video technology company SeaChange International, the two companies announcement Wednesday. The combined entity will be valued at around $ 5 billion. The boards of directors of both companies have approved the proposed merger and the transaction is expected to close in the first quarter of 2022, subject to regulatory and shareholder approvals.

Similar to TikTok, Triller allows users to create and share short videos set to music. The Los Angeles-based company was initially launched in 2015, and the app has been downloaded over 250 million times. Triller has attracted many notable users, including Justin Bieber, Marshmello, The Weeknd, Alicia Keys, Cardi B, Eminem, Post Malone, and Kevin Hart. The app has also signed deals with popular TikTok users, such as Charli D’Amelio and Noah Beck. Former US President Donald Trump has also used the app, although he hasn’t posted a new video on the platform since January.

After the merger is finalized, SeaChange will change its name to TrillerVerz Corp. The Acton, Massachusetts-based company describes itself as a provider of video streaming software solutions that power cloud and on-premises video streaming platforms. The combined company will be headed by Mahi de Silva, CEO of Triller’s parent company. Peter Aquino, Chairman and CEO of SeaChange, will join the TrillerVerz team.

“We believe TrillerVerz is emerging as the voice of youth culture, a brand that sits at the crossroads of content, creator, commerce and culture in the digital world,” said de Silva, in a statement. communicated. “Our strategy is to continue to build the world’s largest stage for creators to distribute and monetize viral and engaging content with experiences that elevate culture. We believe the combination with SeaChange accelerates our advertising and marketing capabilities by extending our reach to cable, satellite and OTT media. “

Both companies say TrillerVerz has the potential to become a leading AI-powered social media platform for content, creators, and commerce. TrillerVerz plans to expand its revenue streams by increasing its global footprint and investing in new growth opportunities in the designer economy and emerging technologies.

“The combination with TrillerVerz represents a tremendous opportunity to invest in the future of creativity,” SeaChange CEO Peter Aquino said in a statement. “We believe that TrillerVerz’s unmatched social media reach, Gen Z engagement and the opportunity to significantly expand its global multiplatform presence across content, commerce, creators and leading the way. e-commerce, advertising and NFTs, including the metaverse, is a compelling investment with the potential to create significant value.

News of the merger comes as Triller and its parent company have expanded the social video platform over the past year. Last month, Triller acquired Thuzio, a company focused on premium business-to-business influencer events and experiences.

In April, Triller acquired the AI-powered customer engagement platform Amplify.AI, which works with brands in CPGs, financial services, automotive, telecommunications, politics and digital media, among others. That same month, Triller also acquired FITE TV, a live event streaming and pay-per-view combat sports platform. In March, Triller acquired the live music streaming platform Verzuz, founded by Swizz Beats and Timbaland.