A US-based music video platform and TikTok rival ‘Triller’ got a $28 million investment from Proxima Media and seems to have handed a stake in its business to all three major labels.
According to a report in the Wall Street Journal, Triller is potentially valued at $130 million. Warner Music Group, Universal Music Group, and Sony Music Entertainment each own a minority piece of the platform. In a press release announcing the $28m raise, Triller said that the new funds will fuel growth and product enhancements and that it has its sights set on overtaking competitor TikTok.
On this week’s Location-Based Marketing Association podcast: TikTok + GrubHub, Bluetooth goes 5.1 accurate, NumberAI, Vistar Media + PlaceIQ & Others, Domino’s builds loyalty with Super Bowl, Uber to launch flying taxis.