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Triller stock is not yet available to purchase on any exchange. But it's expected to go public soon. Here's what we know — and how to buy in when it launches.
There's speculation that Triller is planning an IPO. We're unable to confirm that news, and Triller has not yet filed a viewable Form S-1 with the US Securities and Exchange Commission. As of June 2021, though, news reports suggest the company will go public in July seeking a market valuation of $5 billion.
It's not yet clear how the company will proceed. The most recent reports suggest a direct listing, while earlier reports suggested it would use a SPAC.
SPACs, or special purpose acquisition companies, are shell firms that raise money to acquire or merge with a private company. Following this transaction, the target company can be publicly traded.
So what exactly is Triller? Triller is a music video app that allows users to take an entire song and shoot an editable, high-quality music video to it. With music as its focus, Triller has recieved investments from major recording artists such as Snoop Dogg, Lil Wayne and The Weeknd. Big names like Cardi B and Alicia Keys have also used the app to shoot their own music videos. Triller even allowed fans to stream the hotly anticipated boxing match between former heavyweight champion Mike Tyson and Roy Jones Jr.
Triller is co-owned by movie producer Ryan Kavanagh. It’s currently valued at about $1.5 billion, or 10 times more than it was worth in 2019. The app has been downloaded more than 250 million times worldwide as of August 2020. Kavanagh notes that Triller has about 65 million active users. However, Business Insider spoke with former employees who claim the numbers were inflated, something Kavanagh denies. Nonetheless, Triller still falls behind its rival TikTok. That video app giant has been downloaded more than 2 billion times despite being younger than Triller. TikTok has had issues with President Donald Trump, who threatened to ban the app in the United States. Controversy over the 2020 presidential election results have made the company's fate in the US uncertain. But Triller would stand to gain if the president delivers a blow to the American business operations of its biggest rival.
In December, Triller’s parent company Proxima Media Group announced it hired music executive Tuhin Roy. He played a role in helping companies like Pandora raise money ahead of an initial public offering. There's no news yet about how much the stock will cost when it goes public. No date has been set for when the stock will be publicly available.
On March 9, Billboard reported that Triller Network had acquired Verzuz, the livestream music platform created by Swizz Beatz and Timbaland. The deal brought a long list of artists into the network as equity holders.
Once Triller goes public, you'll need a brokerage account to invest. Consider opening a brokerage account today so you're ready as soon as the stock hits the market.
It's impossible to predict how any stock will perform — and IPOs can be particularly volatile. But evaluating the performance of companies like Triller can be useful in determining how the market is performing and whether now is a good time to invest in this industry. Select a company to learn more about what they do and how their stock performs, including market capitalization, the price-to-earnings (P/E) ratio, price/earnings-to-growth (PEG) ratio and dividend yield. While this list includes a selection of the most well-known and popular stocks, it doesn't include every stock available.
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