Reddit has acquired Tik Tok rival Dubsmash (short-video app)

Reddit has acquired short-video app Dubsmash, entering a crowded market dominated by Chinese-owned firm TikTok.

Financial terms of the deal — which is based on a combination of cash and stock — were not disclosed.

The U.S. social media firm is mostly known for its online forums where users post text, links and media related to certain interests.

Reddit has attempted a refresh in recent years, redesigning its site to stay up to date with trends on popular platforms like Facebook and Twitter.

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Now, as video apps have surged in popularity with younger audiences in particular, Reddit is making a play to expand its presence in the fast-growing category.

In a blog post late Sunday, Reddit said Dubsmash would maintain its own platform and brand, though Reddit will look to integrate Dubsmash’s video creation tools.

Founded in Germany in 2014, Dubsmash’s app lets users record videos of themselves that are dubbed over with audio from songs, movies and TV shows, just like TikTok.

Reddit touted Dubsmash as a “welcoming platform for creators and users who are under-represented in social media.”

Dubsmash is used by about 25% of all Black teens in the U.S., according to Reddit, while females account for 70% of users on the app.

“Both Reddit and Dubsmash share a deep rooted respect for how communities come together,” said Reddit CEO Steve Huffma

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