Triller enters the IPO ring

Social platform Triller is going public and changing its name to TrillerVerz in the process.

Triller enters the IPO ring

 

The Future. Social platform Triller is going public and changing its name to TrillerVerz in the process. While now known as a livestream destination for streaming influencer-driven boxing matches, TrillerVerz hopes to become an all-encompassing platform for creators to participate in the direct-to-fan economy. Although that’s the same ambition as every other social platform, it’s possible that the company’s new name is hinting at a play to build a metaverse destination.

Speed listing
Triller plans to go public fast.

  • The social platform is IPOing via a reverse merger with ad-tech firm SeaChange at a valuation of $5 billion.
  • It will do so via a reverse merger, which can typically close within weeks, as opposed to the drawn-out process of a traditional IPO.
  • The new company will be called TrillerVerz.
  • The company will trade on the NASDAQ under the ticker “ILLR.”
  • SeaChange, which is already public, saw its stock jump 38%.

In a buzzword-filled press release, the combined company said it hopes to “create a leading voice on the Web3.0 movement and embrace the power of decentralized systems to enable greater participation in the multi-hundred billion dollar creator economy.” Very ambitious.

Fight app
How does Triller (which started as a music-driven TikTok-clone) plan to pull that vision off?

  • It’s acquired a range of companies, such as livestream music platform Verzuz and boxing-streaming platform Fite.
  • It has found a niche in hosting marquee boxing matches (notably, with Jake Paul) after the launch of Triller Fight Club in 2020.

Triller currently has a user base of over 300 million.