Google mulls acquiring video-sharing app Firework - report

Friday, 04. October 2019 20:45

Google Inc. is looking to extend its presence in video-sharing by acquiring a California-based startup Firework in a bid to counter ByteDance's increasingly popular TikTok app, people familiar with the matter told the Wall Street Journal on Friday.

The sources also said that the two companies haven't discussed pricing yet, noting that the discussions that have taken place may not result in a deal as they have apparently also discussed other ways to partner up.

Firework, launched in March as a rival to TikTok and Snapchat, was valued at over $100 million in a fundraising round earlier in 2019.

Google's shares jumped 1.56% at 2:45 pm ET amid a spike in stock markets.

Related Links: Alphabet Inc.
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Breaking the News / GG