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2
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· Posted on
February 21, 2024

TikTok's older twin (by 1 min) Triller slaps the UNO Reverse card on mergers and goes public

Just like TikTok, Triller's all about the short-form videos set to music.

What's the key learning?

  • Triller are going public via a reverse merger
  • The new entity will be called TrillerVerz Corp - and will be valued at around US$5 billion
  • A reverse merger is when a private company becomes a public company by taking a controlling stake in the public company.

Background: Triller were founded back in 2015 in Los Angeles - a year before TikTok launched. And like TikTok, they're all about the short-form videos set to music.

What happened: The Triller app has been downloaded more than 250 million times, and has users like Justin Bieber, Post Malone, Kevin Hart.

What else: Now, Triller are going public via a reverse merger. The new entity will be called TrillerVerz Corp - and will be valued at around US$5 billion.

So what's the key learning?

💡A reverse merger is when a private company becomes a public company by taking a controlling stake in the public company. It's called a 'reverse' merger because usually a public company is the one to absorb the private company.

💡There a pros:

  • Companies can go public in as little as 30 days
  • The process is less costly
  • The 'IPO' is less likely to be cancelled or put on hold due to market conditions or adverse media attention

💡But there are also cons:

  • Some reverse mergers can come with unforeseen circumstances, like liability lawsuits
  • Many execs in private companies don't have experience running a public company.

Hopefully...Triller and SeaChange work it out.

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