Reddit acquires short video platform Dubsmash in cash & stock deal

In a statement social network firm Reddit said, it would acquire TikTok rival short-video platform Dubsmash. Although Reddit did not disclose the financial terms of the deal its spokeswoman said the acquisition was based on a combination of cash and stock. TikTok’s proliferance has led many social media companies to add short-video services to their…

Instagram’s co-founders Kevin Systrom and Mike Krieger resign from Facebook

The development adds to the growing number of high profile executives, and co-founders leaving Facebook’s businesses. In a development that adds to the growing list of executives leaving Facebook, Instagram has notified that Kevin Systrom and Mike Krieger, its co-founders, have resigned as the company’s chief executive officer and chief technical officer. Facebook has provided…