Short-video app Triller has announced plans to go public at various points in its history, but could those plans finally come to fruition in 2023?
The company’s S-1 filing to go public via a direct listing on the New York Stock Exchange was published yesterday. Triller’s metrics have long been a topic of debate within the tech and music industries, so the S-1 makes for interesting reading with its numbers.
In it, Triller claims to have raised more than $380m in capital since launch while registering more than 550 million user accounts for example.
It also says that its revenues grew from $3.7m in 2020 to $26.4m in 2021 and $47.7m in 2022. However, its net losses in those three years, respectively, were $77.2m, $773.6m (!!) and $195.6m.
There is also information on some of Triller’s legal tangles with music rightsholders: for example the partial judgement in favour of Sony Music in May this year over its lawsuit against Triller.
The latter was ordered to pay Sony just under $4.6m. Triller says that in July it agreed a settlement with the major label including plans to pay that sum.
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