Facebook & Snapchat Hold Talks to Acquire Dubsmash, TikTok’s Rival

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Facebook and Snap Inc. held talks to discussion Dubsmash acquisition, the information was released on Wednesday, further putting a spotlight on the short video apps at a moment when Microsoft is working on a deal to buy TikTok.

Snap and Facebook were no longer in the deal talks.

Although Dubsmash hasn’t given any response so far, Facebook stated that they would not make comments on these speculations.

This comes a few days after president trump threatened to fully bank TikTok, a Chinese based app, and prohibit all transactions with ByteDance, which is TikTok’s parent company if they do not reach an acquisition deal in 45 days.

President Trump gave Microsoft until 15th September to come up with a deal that will safeguard the sensitive data of the US stored in the short video app as US Could Block TikTok and WeChat From Americans.

Both Snap and Facebook regarding the deal in the next few weeks have so far approached Dubsmash. According to the information that has reached us at the moment, the deal to be reached involves hundreds of millions of dollars.

Also, Facebook is currently facing high-level antitrust scrutiny after buying former competitors, including message app WhatsApp and Instagram, a photosharing app.

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