Published on 8 Nov 2022 on Benzinga via Yahoo Finance
TikTok's Smaller US Rival Files For IPO
Short video app Triller Inc has confidentially filed for an initial public offering with the U.S. SEC.Recently, Triller terminated its merger with video advertising software provider SeaChange International, Inc (NASDAQ: SEAC) when it shared plans to pursue an IPO with a potential listing under the ticker symbol "ILLR" by September.Also Read: Triller Merging With SeaChange International: What Investors Should KnowTriller, launched in 2015, has looked to take on larger rival TikTok.Triller offers similar video sharing, editing, and social networking features to users on its platform.Needham analyst and TikTok President recently shared how they felt that Meta Platforms Inc's (NASDAQ: META) attempts to emulate TikTok would be futile as it continued to lose subscribers to the Chinese counterpart.The filing comes amid a largely volatile market due to the tech selloff over macro uncertainties.Recently, the Federal Communications Commission's Brendan Carr urged Apple, Inc (NASDAQ: AAPL) and Alphabet, Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) to take down the TikTok app from their respective app stores over national security issues.
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