Google is interested to Acquire Video App similar to TikToK
Google has started conversations with fireworks, and it is a startup behind the app, which lets users share 30-seconds video clips. Lots of other companies are also interested in acquiring this particular app.
Presently, Google has held discussions with the startup to acquire an attractive video-sharing app that could stop the fast-growing video sharing Tiktok app. As Google always loves to stay ahead of things, they are presently trying to give a catchy deal for the fireworks to acquire its rights.
Firework is a free smartphone app for users, which allows them to share 30sec homemade videos with others. It is pretty much similar to the Tiktok. Firework app is trying the surface viral, and it’s getting edited videos from unlikely sources. It is presently aiming for the older audience rather than using its better-known competitor.
This pretty cool video sharing app is based in Redwood City from Calif. It’s the present value at more than $100 million in the fundraising round, as per the report of conducted earlier this year.
At present, some people are saying, google and fireworks haven’t yet discussed any pricing. Some even say these discussions will not lead to a deal.
But, some other sources say that Google is keen to acquire this particular app. Along with google Weibo, China’s Twitter version is also expressing interest in the Firework. But the discussions haven’t moved to that range where both of these companies quote a price.
Although the discussions of the web are increasing the regulatory heat on Google. It’s not that fragile to step back as google wants to show their dominance of the technology landscape to the World.
Google is presently the unit of Alphabet Inc. That has hit a massive jackpot by acquiring Youtube 13 years ago and turning it into the World’s best and popular online video destination. You can see lots of stats on youtube that the new stat company says is “500 hours of new content is uploaded to YouTube every minute”.
Not only that, analysts say that youtube is responsible for 20% of the Alphabet’s annual advertising revenue, which means it is contributing a lot to the organization. As we all know, the World of online video is expanding further into the different sections outside Google, Youtube, and another wheelhouse.
These days, the short video is literally on the trend. People love to use their mobile phones to shoot short videos and upload them to their favorite networks. So, the popularity of short videos is becoming stronger day by day. At present, every one person in seven persons is using the Tiktok on their smartphones to have fun.
That’s the great thing about these short term videos. Tiktok has utilized it correctly and has been a massive hit in all the video apps.
Tiktok is generally the Beijing based bite dance company, and it is presently valued at the whooping price of $75billion. Now, to face this, TikTok Google isn’t the only one who is striving to switch to the short video space, but lots of other companies are trying to do that as well.
Tiktok’s has been quite popular in the US, particularly among teenagers, and this has llama red Facebook executives, and they have instantly launched a similar app to the TikTok that is called lasso in 2018. Snap Inc too has rolled out some new features identical to the TikTok to be among the teenagers.
The primary motivation for google is to stay ahead of all its competitors in all aspects. So, its considering other acquisitions in that space to dominate. YouTube executives are presently involved in the discussion of the potential firework real say the officials.
Firework app was launched last year by the former employees of Linkedin, Snap chat, and JP Morgan Chase & Co. The company says that “millions of people have downloaded the app to share the video” through its website. People share all types of videos; such s mountain biking, guitar instruction tips, funny clips, and more. The other part is youtube says that this site has two billion monthly users.
As said above, in the fundraising, $30 million from capital venture firms has been gained from agencies like IDG Captial, GSR venture, Lightspeed Venture Partners, and so on.
This firework app promotes itself as closely aligned with all the major manufacturers in developing special features from the phone’s hardware. For example, videos that are shot on Apple’s iPhone can quickly show footage shot from both handsets at the same time.
Let’s hope Google will acquire fireworks to compete with the Tiktok in the future.