Triller owner in merger talks to go public -source

Tiber Ventures

14/12/2021 01:24

By Echo Wang
    Dec 13 (Reuters) - TrillerNet, the owner of short video app
Triller, is in talks to go public through a merger with
Seachange International Inc.  SEAC.O , according to a person
familiar with the matter.
    As part of the deal, investors have committed to invest $250
million at a valuation for TrillerNet of $5.1 billion, according
to the person.
    The transaction could be announced as soon as this week,
said the person, who asked not to be identified because the
deliberations are confidential. The source cautioned that talks
could fall apart at the last minute.
    A Triller spokesman declined to comment. A Seachange
representative did not immediately respond to request for
comment. 
    Bloomberg first reported on the talks. 
    Launched in 2015, Triller has been diversifying beyond short
video apps to live events, mobile gaming and pay-per-view
streaming. In a sign it no longer views itself as a direct
competitor to TikTok, Triller stopped reporting daily or monthly
active users for its short video app.
    TrillerNet said earlier this year it has more than 300
million users worldwide across its platforms. It has been on an
acquisition spree in recent months, snapping up livestreaming
music platform Verzuz, combat sports game streaming service Fite
TV and marketing platform Amplify.ai. 
    TrillerNet also owns Triller Fight Club, a live-event
platform in partnership with rapper Snoop Dogg and operates
TrillerTV, a long-form content streaming platform with more than
65 original shows.
    TrillerNet's projected revenue for 2021 is more than $250
million, TrillerNet's CFO Paul Kahn told Reuters in April.
    Acton, Massachusetts-based Seachange is a provider of video
delivery, advertising, and streaming platforms. It has a market
capitalization of $84 million.   

 (Reporting by Echo Wang in Taos, New Mexico; editing by Richard
Pullin)
 ((E.Wang@thomsonreuters.com; +1 9172873971; Reuters Messaging:
E.Wang@thomsonreuters.com@reuters.net))