Google Is Planning To Acquire Firework To Challenge TikTok

According to a recent report, Google is planning to acquire Firework - the US social video app that allows its users to create and share short-form videos like TikTok.

The Wall Street Journal reported that in addition to the US search giant, the micro-blogging platform in China, Weibo, seems to have an intention to purchase this new social video app; however, “talks with Google are further along.”

The parent company of Firework, Loop Now Technologies Inc., is headquartered in Redwood City, California. It started entering the Indian market in September 2019. In a round to raise funding at the beginning of this year, the company was estimated at over $100 million. Meanwhile, TikTok’s parent company, ByteDance, is now valued at about $75 billion.

Firework is one of the major products of Loop Now Technologies, a startup company that specializes in developing mobile applications for young consumers.

While TikTok lets its users create short videos that last 15 seconds, Firework can allow them to make 30-second videos. Also, with the patent-pending tech dubbed “Reveal”, this app allows users to combine vertical and horizontal video in the only one shot via their smartphones.

Firework has amassed more than 10 lakhs registered users and can run on both Android and iOS smartphones. Its company has appointed Sunil Nair as India CEO and Managing Director.

The new CEO made a statement as follows:

In November 2018, Facebook silently launched Lasso, an independent application in a bid to take on TikTok. Largely used by US users, Lasso, similar to the Chinese short-video making app, also allows users to record their own dances and lip-syncs. Facebook has reportedly partnered with Jason Toff, a former employee at Google. It’s likely that the famous social networking company is planning to launch its own short video-sharing application.