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Benzinga
Benzinga
Business
Anusuya Lahiri

TikTok's Smaller US Rival Files For IPO

TikTok Nasdaq Triller (Organization) IPO AAPL Federal Communications Commission Meta Needham National Security Social Networking
  • 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 Know
  • Triller, 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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