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Triller Looks to Become a TikTok Competitor

From the Los Angeles Business Journal:

Triller Corp. is being sold in an all-stock transaction, as the Hollywood-brd content platform looks to align itself as a “digital leader” and a strong alternative to TikTok. The merger with AGBA Group Holding Ltd. will mark the completion of Triller’s long-running plan to go public, a journey which included the cancellation of a multibillion-dollar reverse merger in 2022. Triller said the combination of Hong Kong-brd AGBA’s financial expertise with Triller’s content creation capabilities will “set the stage” for Triller to emerge as a prominent competitor to TikTok.

Triller markets itself as an artificial intelligence-powered platform for creators and brands to promote content, generate commerce and engage with fans. It will become a wholly-owned subsidiary of AGBA through the transaction, which will create a combined company valued at $4 billion. Triller’s restricted stock unit holders and shareholders will receive 407 million shares of AGBA’s stock and will own 80% of the resulting combined company, while AGBA’s shareholders will own the remaining 20%. In the day following the deal’s announcement on April 18, AGBA’s stock price increase by about 158% to $1.03 per share. The deal has been approved by both companies’ boards and is pending regulatory and stockholder approvals.

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