(Bloomberg) -- Triller, a social-video platform that counts TikTok among its rivals, is in talks to go public through a merger with Seachange International Inc., according to a person with knowledge of the matter.
A transaction could be announced as soon as this week, said the person, who requested anonymity because the talks are private. A transaction is set to value Triller at a premium to its most recent valuation, which was $1.25 billion, according to PitchBook. It's possible that talks could fall apart at the last minute.
A Triller spokesman “declined to comment on rumor and speculation.” A Seachange representative declined to comment.
Los Angeles-based Triller, like TikTok, says its proprietary artificial intelligence technology lets users post short-form videos with music and filters. The app has counted former U.S. President Donald J. Trump, Justin Bieber and Alicia Keys among its verified users, and has been downloaded 250 million times, its website shows.
Trump, who has agreed to a deal with a special purpose acquisition company that is funding the formation of a social media platform known as Truth Social, turned to Triller earlier this year after being suspended from Twitter. His most recent post on Triller condemned the Capitol riots in January.
Triller last month said it acquired Thuzio, which specializes in business-to-business events. Led by Chief Executive Officer Mahi de Silva, Triller counts Ryan Kavanaugh and Bobby Sarnevesht as co-controlling shareholders of its parent, TrillerNet.
Read more: Apple Tried to Buy Rap-Battle Site Verzuz Before Triller Deal
TrillerNet also owns Verzuz, a live-stream music platform launched by Swizz Beatz and Timbaland; Amplify.ai, a customer engagement platform; and streaming site FITE.
Acton, Massachusetts-based Seachange is led by CEO Peter Aquino. It describes itself as a provider of video delivery, advertising and streaming platforms.
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