Google is reportedly interested in purchasing Firework, a TikTok competitor, according to a recent report from the Wall Street Journal.
The company is apparently doing so in an attempt to become more relevant in terms of social media. Firework is geared towards older audiences, and apparently, has millions of users according to its website.
Firework is similar to TikTok as it allows users to create and upload 30-second videos.
The app was developed in California, and was created by former employees from Snapchat and LinkedIn.
Weibo, a Chinese social network, is also interested in purchasing Firework. However, Google is further in its plan to buy the app.
Firework is currently valued at $100 million USD ($133 million CAD), and would reportedly have a “high premium.” However, the two companies have not yet discussed pricing.
The app has a number of positive reviews in the iOS App Store and on Google Play.
Although YouTube executives are involved in the discussions, the purchase would be conducted under the Google brand.
Source: Wall Street Journal Via: 9to5Google