TikTok rival Triller recently made it clear that it is not interested in paying Universal Music Group to license the UMG music catalog. Triller is apparently more willing to spend his money-buying ventures – ahead of a much-rumored potential IPO in the public markets.
Triller’s parent company TrillerNet today announced the acquisition of not one, but two companies: the AI-powered ‘Customer Engagement Platform’ Amplify.ai and the event streaming platform FITE.
These two acquisitions follow last month’s news that Swizz Beatz and Timbaland had sold their Verzuz platform to Triller.
Also today there are other important news from TrillerNet: A new CEO has been appointed, Mahi de Silva, the co-founder and CEO of Amplify.ai and the non-executive chairman of TrillerNet.
Mike Lu, Triller’s long-time CEO, makes room for de Silva and clears this position. Instead, Lu is moving to the president of TrillerNet, a role in which, according to Triller, he “will expand his focus on global investor relations.”
The move, therefore, is likely to result in Lu becoming more focused on bringing trills to the public.
Mahi de SilvaTrillerNet’s new CEO said, “The Triller team has built something extraordinary and I look forward to assuming the role of CEO and joining an incredibly talented team that is redefining the future of content, developers and commerce.
“Triller has empowered global influencers with unique skills to reach and engage millions of users around the world, while providing partner brands with innovative ways to join this vibrant and thriving ecosystem. The best is yet to come. “
The news of Lu’s new role at Triller follows reports from the last quarter of 2020, which indicated that Triller was planning an IPO in 2021 via a blank check ‘SPAC’ (Special Purpose Acquisition Company) after raising a $ 100 million round of funding. Dollar secured at had a valuation of $ 1.25 billion.
TrillerNet co-owner Bobby Sarnevesht remains Executive Chairman of TrillerNet.
Sarnevesht said today: “[We] I couldn’t ask for a better CEO than Mahi de Silva. He is one of the brightest minds in the business, and his vision and leadership will be invaluable to Triller as he grows explosively.
“After building and successfully leaving several unicorns in tech, social media, ad tech, and e-commerce, there couldn’t be a better person for this role.”
Now for these newly acquired companies. Amplify.ai is described as a “Conversational AI and Brand Amplification” platform. It is claimed that its technology has enabled more than 11 billion digital engagements with over 600 million consumers.
Amplify.ai offers services such as conversational AI, AI-supported comment moderation, creation of customer profiles, conversational ads and e-commerce integrations.
Triller says it will use Amplify.ai’s AI-powered loyalty technology to open new businesses “at the intersection of technology, entertainment and brands.”
“With this step, we have officially replaced the inefficient branded funnel and turned it into a perfect cylinder.”
Mike Lu, TrillerNet
Amplify.ai is also already integrated into the Triller platform, which, according to Triller, offers its users and brand partners a selection of “AI-based tools and analytics to improve, track and monetize their content”.
TrillerNet previously developed an NFT marketplace in collaboration with Amplify.ai.
Mike LuCommenting on the acquisition of Amplify.ai, the President of TrillerNet said: “With this move, we have officially replaced the inefficient branded funnel and turned it into a perfect cylinder.
“Nowhere else can a brand combine their message, talent, content and dissemination in one place while getting the ad tech and mar tech tools and analysis to perfect their B-to-C experience improve . ”
FITE is now a well-known live event and pay-per-view streaming platform for sports and entertainment.
The company claims to have over 10 million users and has streamed over 5,000 live events in the past five years.
FITE partners include martial arts brands such as Top Rank, AEW, PBC, ONE Championship, WWE, Impact, Golden Boy Promotions and Matchroom Boxing.
The platform’s investors include Earlybird Digital East, LAUNCHub Ventures, Tim Draperand BrightCap, who have joined Triller’s list of investors.
FITE joins TrillerNet’s other properties including Triller Flight Club, a live events platform in partnership with Snoop Dogg, and TrillerTV, a long-form content streaming platform that currently includes over 65 original series from similar companies Jennifer Lopez, The D’Amelio family, 2 Chainz, Jake Paul, Perez hilton and other.
“Triller has an exceptionally visionary leadership team that is revolutionizing the world of sports and entertainment. We are very excited to be part of and play a role in this process. “
Kosta Jordanov, FITE
“Triller has an exceptionally visionary leadership team that is revolutionizing the world of sports and entertainment. We are very excited to be part of and play a role in this process, ”he said Kosta Jordanov, FITE Co-Founder and CEO.
“As part of TrillerNet, FITE will in future be the exclusive global digital distributor of all Triller Fight Club events. This content relationship is to be expanded in exciting new ways.
“We will continue to work with and serve all of our content partners. We look forward to leveraging Triller’s significant user base and advertising influence for all of the major events we host on the FITE platform.”
“With over 10 million users, FITE is the perfect long-form platform for trills to further publish their cultural content from the fields of combat, sports, fashion, music and pop culture.”
Ryan Kavanaugh, trill
Bobby Sarnevesht, chairman and co-owner of Triller, and Ryan KavanaughThe co-owner of Triller said in a joint statement: “FITE has been a fantastic partner and the synergy between the two companies and teams was clear from day one.
“With the acquisition of FITE, we bring the outstanding technology, the valuable customer and content partner base and one of the most experienced management teams in this area to TrillerNET.
“The deal represents our ambition not only to expand the Triller Fight Club and expand FITE’s distribution relationships, but also to rethink what, how and when premium music, sports and entertainment are offered to today’s audiences.”
Ryan Kavanaugh added: “With over 10 million users, FITE is the perfect platform for Triller to continue publishing their cultural content from the fields of combat, sports, fashion, music and pop culture.
“With this acquisition, we have officially completed our 360-degree content engine.”
Triller did not disclose financial details of either acquisition.Music business worldwide