Triller, a popular video app often compared to TikTok, has unveiled its plans for a direct listing on the New York Stock Exchange (NYSE). The company had previously announced its intention to go public on Nasdaq, but has now changed course. Triller will trade under the ticker symbol ILLR.
The decision to pursue a direct listing came after the termination of a planned merger with SeaChange International earlier this year. Triller, which was acquired by Ryan Kavanaugh and Bobby Sarnevesht in 2019, is known for its various ventures including the Verzuz music battles and Triller Fight Club.
Despite the challenges posed by the pandemic, Triller managed to generate impressive revenue in 2022. The company reported $47.7 million in revenue, a significant increase from the $26.4 million it earned in 2021.
Triller’s strong financial performance has attracted the attention of notable investors such as Metallica, Snoop Dogg, and Lil Wayne. These investments, coupled with a substantial equity capital commitment of up to $310 million from Global Emerging Markets, solidify Triller’s position as a promising player in the video app market.
As Triller prepares for its direct listing on the NYSE, industry watchers are keen to see how the company will fare in the highly competitive social media landscape.