- Triller and SeaChange International, a publicly traded video delivery software company, have entered into a reverse merger that will see the former traded on the NASDAQ, according to an announcement. The deal is expected to close in the first quarter of 2022.
- The combined companies will be known as TrillerVerz Corp, which will focus on growing its advertising and marketing capabilities by extending its reach to cable, satellite and OTT media so it can more easily reach the coveted Gen Z market.
- The video-sharing app Triller drives more than 750 million user interactions per month, reflecting a doubling of user engagement from a year ago and 5.3-times growth in the number of paying users, per the release. The merger reflects the business opportunity for social media platforms that combine video content, creators, advertising and commerce as evidenced by TikTok's significant growth over the past two years.
With the SeaChange deal, Triller is positioning itself to be a leading digital platform with consumers and advertisers by extending its reach to cable, satellite and OTT media. Via the merger, Triller is able to bypass an initial public offering and quickly take the company public. The new company, TrillerVerz, plans to drive revenue growth with a larger global footprint and investment in new growth opportunities across the creator economy and emerging technologies.
Triller has attracted the attention of marketers who are looking for ways to engage with younger consumers hungry for creator-produced video content, as evidenced by TikTok's meteoric growth. Recently, Pepsi sponsored a virtual hip-hop competition on Triller to promote its wild cherry-flavored cola.
Among Triller users of note are Justin Bieber, Alicia Keys, Cardi B and Eminem. Triller has gained traction by livestreaming a series of boxing matches featuring unorthodox but widely tracked participants like YouTube personality Jake Paul. Another key holding is Verzuz, the livestream music platform launched by established music industry figures Swizz Beatz and Timbaland.
"Our strategy is to continue to build the world's largest stage for creators to distribute and monetize viral and engaging content with experiences that elevate culture," Mahi de Silva, who will become CEO of TrillerVerz and chairman of the board upon the deal's closing, said in a statement.
Peter Aquino, president and CEO of SeaChange, will join the new venture in an unspecified role. Aquino, in a statement, called out the business opportunity that's emerged as digital media evolves to embrace developments like social video and the metaverse, which has quickly gained steam as a concept this year and could provide new opportunities for marketers to engage consumers.
"We believe that TrillerVerz's unmatched 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 the potential to create significant value," Aquino said.
In 2019, Proxima Media, owned by Ryan Kavanaugh, the former head of twice-bankrupt studio Relativity Media, and Bobby Sarnevesht, bought a controlling stake in Triller.