Google has lately shown interest in acquiring US-based social video app Firework to make a more established stand on the social media platform. After the washout of Google+, the company went into a momentary retreat from socializing apps. Fireworks, supposed to be TikTok apps’ rival, has been quoted as having millions of users and is currently valued at $100 million.
Firework and TikTok are much the same. Both allow users to record and upload 30 second short videos. But why is Firework in the limelight? It has a unique patented technology termed ‘Reveal’, which lets users to take both horizontal and vertical video in one shot from their phones. Moreover, its 4.5 average rating adds to its good looks.
According to the Wall Street Journal, the Chinese microblogging platform Weibo also has its eyes on Firework but talks with Google are far ahead. Based in Redwood City, California, Firework is expected to fetch a “high premium” price, but the monetary details of the acquisition are yet to be debated. This app is a product of Loop Now Technologies, a startup that works towards next-generation mobile applications.
The video-sharing app entered India only last month but has gained considerable popularity already. Sunil Nair has been appointed as the CEO and MD of the Indian wing of the company. Youtube has been part of the acquisition talks, but reports state if the deal is pulled off, it will be under the main Google brand. Expect another feather in Google’s already overflowing cap!
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