U.S. App 'Triller' Set Eyes on Taking over Tiktok

Triller, the American competitor to Chinese TikTok, is in discussions about a merger that would make the US social media company public.

The deal comes as US President Donald Trump has ordered a ban of TikTok, citing concerns that US citizens' data could be within reach of the Chinese Communist Party.

Triller, launched in 2015, has a has 65 million monthly active users of  TikTok's 100 million users in the US alone, yet it hopes the uncertainty about its rival's future will drive more users to its platform.

The U.S. app is working with Farvahar Partners while negotiating a potential deal with Special Purpose Acquisition Corporations (SPAC) to be publicly traded, alongside discussions with investors about a second round of private fundraising to raise around $150 million, after managing to secure $100 million in the first round.

Celeb Triller users include musicians Alicia Keys, Cardi B, and Eminem, and her financial backers include Kendrick Lamar and The Weeknd.

In July, Triller sued TikTok for violating its patent for linking multiple music videos with a single audio track.

Last month, Trump has thrown a deal that would give a 20% stake in TikTok to computer network Oracle and retail giant Walmart, yet, negotiations have stalled after this.

For starters, TikTok users can only make 15 second clips, while Triller can make a full music video to a complete track.