TikTok's Smaller US Rival Files For IPO

Short video app Triller Inc has confidentially filed for an initial public offering with the U.S. SEC.
Recently, Triller terminated its merger with video advertising software provider SeaChange International, Inc SEAC when it shared plans to pursue an IPO with a potential listing under the ticker symbol "ILLR" by September.
Also Read: Triller Merging With SeaChange International: What Investors Should Know
Triller, launched in 2015, has looked to take on larger rival TikTok.
Triller offers similar video sharing, editing, and social networking features to users on its platform.
Needham analyst and TikTok President recently shared how they felt that Meta Platforms Inc's META attempts to emulate TikTok would be futile as it continued to lose subscribers to the Chinese counterpart.
The filing comes amid a largely volatile market due to the tech selloff over macro uncertainties.
Recently, the Federal Communications Commission's Brendan Carr urged Apple, Inc AAPL and Alphabet, Inc GOOG GOOGL to take down the TikTok app from their respective app stores over national security issues.