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TikTok competitor Triller making big plans, hoping to ‘trill’ investors
- Monday | 12th October, 2020
(Reuters) – Triller Inc, a budding competitor to popular short-video app TikTok, is in discussions with blank-check acquisition companies about a merger which would take the US social media company public, according to people familiar with the matter. TikTok has sued the US government to stave off a ban from US app stores while deal negotiations continue. Triller is working with investment bank Farvahar Partners as it negotiates a potential deal with a so-called special purpose acquisition companies (SPAC), the sources said. In August, Triller said it had partnered with investment firm Centricus Asset Management Ltd in a bid for TikTok. The negotiations subsequently stalled, as ByteDance maintained it would keep an 80% stake in TikTok, rather than distribute it to its investors.
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