Google wants to purchase FireWork, a TikTok rival, according to a report from the Wall Steet Journal.
Firework is a TikTok like app that is built around uploading short, 30-second clips. It’s aimed at an older audience than the former and has recieved high ratings in both Apple’s and Google’s app stores Google really wants to partner with them, exploring ideas besides an outright purchase as well.
For Google, adding another video company under its umbrella makes sense considering the firm already owns one of the largest streaming companies with YouTube. Google also wants to push into social media, despite its failed Google Plus aspiration, it seems the firm still sees a chance. This makes a bit of sense, social media apps are ‘sticky’ and keep users coming back. All of the firm’s past failures can always be forgotten if it gets that one big win. Talks of the purchase are in early stages, and pricing has not been discussed yet but Firework has been valued at about $100m.
Source: Wall Street Journal