Google is in negotiations to acquire firework, a free smartphone app that allows users to share short videos along the lines of TikTok. According to reports from the Wall Street Journal, prices would not yet have been discussed, but Firework (based in Redwood City, California) would have a value of over 100 million dollars.
Google would seem not to be the only technology giant to show interest in Firework: too Weibo, the Chinese version of Twitter, seems to be in talks with the app, but those underway with BigG would seem to last longer. Google has taken an incredible hit with YouTube, which acquired $ 1.65 billion in 2006 and has become the largest online video platform in the world, with around two billion monthly users. However, short videos shot and shared on smartphones are becoming an interesting new trend. According to the source, YouTube executives would be involved in negotiations regarding the potential purchase of Firework, and the research giant would also be considering the idea of other acquisitions.
Firework was launched last year by some former Snap, LinkedIn and JPMorgan Chase & Co. executives. The popularity of TikTok also attracted the attention of Facebook, which began developing a stand-alone app called Lasso, which aims to a teenage audience offering features similar to those of TikTok, such as lip-synching and video sharing. Snapchat has responded with features like Lens Challenges to the popular TikTok hashtag challenges. It will be interesting to see if the Mountain View giant will succeed in realizing the acquisition of Firework to compete with Chinese social media.