Short video app Triller, rival to TikTok, is set to go public via a reverse merger with video-tech company SeaChange International. The two companies made the announcement on Wednesday, December 22, 2021. The newly merged brand is approximated at $5 billion market value and is expected to come to a close during the first quarter of 2022, subject to additional stockholder and regulatory approvals.
Where’s The ‘H’?
Triller, like TikTok, but to a lesser degree, allows users to create short video clips set to music. Triller’s HQ is based in LA and was launched back in 2015. Since then, it’s all-time app downloads have reached more than 250 million, putting it up along with other notable apps. To that extent, Triller has in fact attracted some big names, including the likes of the famous DJ Marshmello, Justin Bieber, The Weeknd, Eminem, Alicia Keys, Kevin Hart, Post Malone, and Cardi B. Despite essentially being ‘rivals’, Triller, on more than one occasion, has actually entered a couple of partnerships with popular TikTok stars Charli D’Amelio and Noah Beck. Former U.S President Donald Trump was also on Triller, but hasn’t posted anything new since January; must’ve been a quick-stunt.
Post-merger, SeaChange will be changing Triller to TrillerVerz Corp. The new Acton, Massachusetts-based company describes itself as a supplier of video delivery software solutions that power cloud and on-premise video delivery platforms. TrillerVerz will be headed by Mahi de Silva, CEO of Triller’s parent company. Also joining the TrillerVerz team is Peter Aquino, the president and CEO of SeaChange.
De Silva explains:
“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. 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 that TrillerVerz is in a good position to be a leading AI-powered platform for content creators and commerce. TrillerVerz plans to expand its revenue streams by increasing its global footprint and investing in new growth opportunities that span across the creator economy, as well as emerging technologies.
The Wrap
News of this merger comes as Triller and its parent company have been expanding the platform over the past year. Just last month, Triller itself acquired Thuzio, which is regarded as an industry leader in terms of B2B influencer events and experiences. To add, earlier in April, Triller also acquired Amplify.AI, which is an AI-based customer engagement platform that worked with a couple of big brands across several fields and industries. In March, Triller acquired music streaming platform Verzuz, founded by Swiss Beats and Timbaland.
From these acquisitions we can see that Triller is definitely a capable, if not totally underrated, competitor to TikTok. Though the latter possibly has greater cultural sway and influence, the former has the experience and superior technical and commerce capability to stand as an equal industry leader, although perhaps in a different way.
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Sources