Triller Nears Deal to Raise at Least $200 Million
Triller, the music-focused social media platform, is in the process of closing another round of funding worth upwards of $200 million, according to a person familiar with deal. The latest investment would come as its chief rival, TikTok, is facing increased scrutiny from lawmakers over its parent company, Beijing-based Bytedance, and its ties to China’s communist government. Fox Business was the first to report Triller was nearing a deal worth $200 million to $300 million on Tuesday. SCOOP via @LJMoynihan — As @tiktok_us bleeds users amid US scrutiny, its US-base rival @triller is raising $200M-$300M to expand operations provide user incentives etc. Money is being raised by a several banks including @RealOmeedMalik's Farvahar Partners more 345 @FoxBusiness — Charles Gasparino (@CGasparino) July 28, 2020 Also Read: If TikTok Gets Banned in the US, These 4 Apps Could Benefit Most Triller declined to comment when reached by TheWrap. The raise would come after Triller secured between $10 million-$20 million last December from a number of high-profile investors, including Snoop Dogg, The Weeknd, Marshmello, Lil Wayne, YoungThug, Kendrick Lamar, Pitbull, Baron Davis, Tyga, TI, and Jake Paul. At the time, Triller had 26.5 million monthly active users in the U.S. and more...
Read original story Triller Nears Deal to Raise at Least $200 Million At TheWrap
