Monday, October 12, 2020

Triller Seeking To Go Public Via SPAC, Says Report

Los Angeles-based social application developer Triller, which competes head to head against TikTok, is seeking to reach the public markets through a SPAC (special purpose acquisition company), according to a report. According to Reuters, Triller has hired an investment banking firm, Farvahar Partners, to assist it in the effort, and also appears to be seeking additional funding in parallel. Reuters cited "people familiar with the matter" for the report. Triller--which is far less popular than Tiktok--has been hoping to capitalize on the uncertainty around TikTok's future in the United States to launch itself as a full blown replacement for TikTok. TikTok is the target of efforts by the U.S. administration to force a sale by its Chinese parent company, ByteDance.