Triller, short video application and owner of Versuz announced its merger with video-tech company SeaChange International.
According to the news reports the combined entity will be valued at $5 billion and the boards of both companies already approved the merger.
To someone who doesn’t know what Triller is all about? It operate similar to TikTok, it allows users to create and share short-form videos set to music.
The LA based company was launched in 2015 and it has been dowloaded for almost 250 million times according to TechCrunch.
Following the merger with SeaChange International, the company will change its name into TrillerVerz Corp.
The new organisation will be led Mahi de Silva, the CEO of Triller’s parent company. Peter Aquino, the president and CEO of SeaChange, will join the TrillerVerz team.
“We believe TrillerVerz is becoming the voice of youth culture, a brand that sits at the nexus of content, creator, commerce, and culture in the digital world,” said de Silva, in a statement.
“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 that combining with SeaChange accelerates our advertising and marketing capabilities by extending our reach to cable, satellite, and OTT media.”
The two companies say TrillerVerz is positioned to become a leading AI-powered social media platform for content, creators and commerce.
“The business 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 meaningfully expand its global multi-platform presence across content, commerce, creators, and being at the forefront of e-commerce, adtech, and NFTs, including the metaverse, is a compelling investment with the potential to create significant value.”
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