Timbaland and Swizz Beatz stepped up to the plate during the pandemic to add some joy through the concept of Verzuz. After much success and some questionable head-to-head musical battles, Triller acquired Verzuz from the two musical icons. Oh, what a tale of American economics.
Many culturalists speculated that the acquisition would water down the impact of Verzuz. Others saw Triller’s money move as an attempt to stay relevant, specifically against its ever-popular competitor — Tik Tok.
Whether any of those speculations are true, Triller is in the news again. This time, the short video app filed official paperwork with the United States Securities and Exchange Commission to take the company public.
Moving With Intentionality
According to Reuters, Triller terminated its $5 billion merger with SeaChange International, Inc., a video advertising software company. The now-defunct merger sent SeaChange’s share skyrocketing downward to just 41 cents.
Triller believes the move to pursue a public offering in lieu of the merger was a response to increased demand for its convertible debt offering.
“The current market demands clear and disciplined thinking. A Triller IPO is a cleaner transaction, allowing us greater control of our destiny,” Chief Executive Officer Mahi de Silva said of the business move.
Additional details around the decision to go public are limited as the relatively short yet official press release from Triller describes the move as a “confidential” submission.
Move After Move
While this move will likely be their most extensive to date, Triller has consistently leveraged its business model to amplify its status and boost success.
In April of this year, Triller acquired Fangage. Founded by Sam Feldt, Fangage is a solutions-based platform for creators aimed to help them reach and engage their fanbase across the globe.
Before this move in April but nearly a year after the Verzuz acquisition, Triller announced that it had acquired Julius, a marketing software platform, for an undisclosed fee.