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Triller is planning to go public by merging with SeaChange International, a video delivery and advertising company. Here's what we know about the deal so far and how to buy Triller stock in Canada when it becomes available.
National Bank Direct Brokerage
CIBC Investor's Edge
Popular US-based video-sharing social networking service, Triller, has confirmed that it plans to go public by merging with SeaChange International, Inc., a video delivery and advertising company.
Triller stands to receive around $250 million from the deal. The combined company is expected to have a market valuation of $5 billion.SeaChange International currently trades on the Nasdaq Global Select Market under the ticker symbol "SEAC." After the merger, the company will be named TrillerVerz Corp. and will trade on the Nasdaq under the symbol "ILLR." The transaction is expected to take place in the first quarter of 2022, although the exact date has not been announced.
You can read more about the Triller–SeaChange merger in this registration document filed with the US Securities and Exchange Commission (SEC) on February 22, 2022. We'll update this page as more information becomes available.
Triller is a music video app that allows users to take an entire song and shoot an editable, high-quality music video to it. It's co-owned by movie producer Ryan Kavanagh and is currently valued at about $1.5 billion—10X more than it was worth in 2019. The app has been downloaded more than 250 million times worldwide as of August 2020.
With music as its focus, Triller has received 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.
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.
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.
Note: all dollar amounts on this page are in US dollars unless otherwise stated.
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.
You won't be able to buy Triller stocks on a Canadian stock exchange like the TSX. Instead, you need a Canadian broker that provides access to international stock exchanges.
You can access US exchanges like the NYSE and the NASDAQ using Canadian trading platforms like Qtrade, Wealthsimple, Scotia iTRADE and CIBC Investor's Edge.
Interactive Brokers provides access to many stock exchanges outside North America like the Hong Kong Stock Exchange (SEHK), Korea Stock Exchange (KSE), National Stock Exchange of India (NSE), Frankfurt Stock Exchange (FWB) and London Stock Exchange (LSE).
How to buy international stocks in Canada
Note: The dollar amounts in the table below are in Canadian dollars.
Canadians who earn dividends from US stock investments must pay the US Internal Revenue Service (IRS) a 15% withholding tax on their earnings. The rate goes down to 10% for bonds and other interest-yielding US investments.
An exception is made for stock investments held in trusts designed to provide retirement income. This includes RRIFs, LIRAs, LIFs, LRIFs and Prescribed RRIFs. RRSPs that hold US stocks, bonds or ETFs are also exempt from US withholding tax. RESPs, TFSAs and RDSPs are not exempt.
Canadian and international investment income must be declared on your Canadian tax return. Unless your US earnings are exempt from withholding tax, this means you'll be taxed by both the IRS and the CRA. The CRA may allow you to claim foreign tax credits for any taxes you've already paid to the IRS.
Speak with a tax professional to find out what rules and exceptions apply in your circumstances.Online stock trading
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