Business News Digital

Triller begins IPO process

By | Published on Friday 1 July 2022


TikTok competitor Triller has begun the process for an Initial Public Offering on the Nasdaq stock exchange in the US, confirming yesterday that it had “confidentially submitted a draft registration statement on Form S-1 with the Securities And Exchange Commission relating to the proposed public listing of its Class A common stock”.

The Triller company previously planned to become a publicly listed operation via a merger with another business already listed on the Nasdaq exchange, that being video advertising software provider SeaChange International Inc. However, earlier this month it confirmed that that merger was officially off.

Confirming shortly after that announcement that his company now planned to pursue an IPO, Triller CEO Mahi de Silva said at the time: “The current market demands clear and disciplined thinking. After much deliberation, Triller has determined that the best course of action is a direct listing for Triller. A Triller IPO is a cleaner transaction, allowing us greater control of our destiny”.

“Today’s news is a clear commitment to our effort to build the world’s best platform for creators; artists, influencers, athletes, thought-leaders and brands”, he added, before declaring, somewhat bombastically, “the Triller IPO will be the largest creator IPO in history”.

With its core product competing with all things TikTok, you sensed that the Triller company was happiest in 2020 when it looked like then American President Donald Trump was going to ban use of the China-owner TikTok app within the US.

That didn’t happen in the end, of course, although concerns remain about what access the Chinese government has to TikTok user-data, with FCC Commissioner Brendan Carr calling on Apple and Google just this week to stop making the TikTok app available via their respective app stores.