Dubsmash, a popular lip-syncing app is a competitor of TikTok, and as a ban of TikTok inches closer to reality in the US, it’s popularity is on the rise. That opprtunity has now been spotted by Facebook and Snapchat, according to a new report by The Information.
Facebook and Snapchat have recently held talks to buy Dubsmash, in what would be a direct move to compete with TikTok whether it gets banned or not. According to The iInformaiton, there are no on-going discussions, however initial talks reached as far enough as discussing a price tag, which is reportedly in the range of $100,000,000.
No current talks are being held, however, could resume or “widen to other-would-be acquirers”. Facebook says it is not currently in talks, and Snapchat says it admires the Dubsmash team but aren’t in active talks. Dubsmash’s President and co-founder Suchit Dash declined to comment.