A new video-sharing software is taking over Nasdaq by a reverse merger with the video advertising company SeaChange ( ().
The two have announced that they will join the company focused on video advertising. A new company known as TrillerVerz will be listed under the ticker symbol "ILLR".
A software developed in 2015 by David Leiberman and Sammy Rubin, the Los Angeles-based Triller started as a video editing app, but eventually morphed into a social media space where users can share short videos.
SeaChange has been a broadcaster since the 1990s, and is becoming the operating subsidiary of TrillerVerz.
The Street Recommands.
Having a product similar to TikTok, Triller became popular in India after the country's political disagreements with Beijing last summer.
A package agreed between two companies, the deal is expected to close in the first quarter of 2022, while its focus remains on a younger audience, TrillerVerz plans to expand its product in a rapidly-adopted format from a metaverse to web3.
"Today, the combined ecosystem of creators is the younger generation's most recognized and followed brands globally," said Mahi de Silva. "We think TrillerVerz is becoming the voice of youth culture, a brand that is focused on content and creators, commerce and culture in the digital world."
When news of the merger became public - stock rose to $3.18, 80%.