Triller, a TikTok competitor, will go public through a merger with SeaChange International

App for making short videos Triller will go public through a reverse merger with video-tech firm SeaChange International, the two companies announced on Wednesday. The combined entity will be worth around $5 billion.

The proposed merger has been approved by the boards of both companies, and the transaction is expected to close in the first quarter of 2022, subject to regulatory and stockholder approvals.

Triller, like TikTok, allows users to create and share short-form video clips set to music. The Los Angeles-based company first launched the app in 2015, and it has since been downloaded over 250 million times.

Triller’s fans include Justin Bieber, Marshmello, The Weeknd, Alicia Keys, Cardi B, Eminem, Post Malone, and Kevin Hart. The app has also signed deals with well-known TikTok users like Charli D’Amelio and Noah Beck. Former US President Donald Trump also used the app, though he hasn’t posted a new video since January.

SeaChange will be renamed TrillerVerz Corp. after the merger is completed. The company, based in Acton, Massachusetts, describes itself as a provider of video delivery software solutions that power cloud and on-premise video delivery platforms. Mahi de Silva, the CEO of Triller’s parent company, will lead the combined company. SeaChange’s president and CEO, Peter Aquino, will join the TrillerVerz team.

“We believe TrillerVerz is becoming the voice of youth culture, a brand that sits at the digital nexus of content, creator, commerce, and culture,” said de Silva in a statement. “Our strategy is to continue to build the world’s largest platform for creators to distribute and monetize viral and engaging content with culturally elevating experiences.” We believe that joining forces with SeaChange will accelerate our advertising and marketing capabilities by expanding our reach to cable, satellite, and OTT media.”

TrillerVerz, according to the two companies, is poised to become a leading AI-powered social media platform for content, creators, and commerce. TrillerVerz intends to increase its global footprint and invest in new growth opportunities in the creator economy and emerging technologies in order to diversify its revenue streams.

“The partnership with TrillerVerz represents a tremendous opportunity to invest in the future of creativity,” said SeaChange CEO Peter Aquino in a statement. “We believe TrillerVerz’s unrivaled social media reach, Gen Z engagement, and the opportunity to meaningfully expand its global multi-platform presence across content, commerce, creators, and being at the forefront of e-commerce, adtech, and NFTs, including the metaverse, is a compelling investment with significant value creation potential.”

The merger comes at a time when Triller and its parent company have been expanding the social video platform over the last year. Triller recently acquired Thuzio, a company specializing in business-to-business premium influencer events and experiences.

Triller acquired Amplify, an AI-powered customer engagement platform, in April.

AI, which collaborates with brands in CPG, finance, automotive, telecommunications, politics, and digital media, among others. Triller also acquired FITE TV, a live event and pay-per-view combat sports streaming platform, in the same month. Triller purchased Verzuz, a live music streaming platform founded by Swizz Beats and Timbaland, in March.