Snap’s surprise acquisition of Voisey, a TikTok clone from the UK, is a smart acknowledgement of TikTok’s mojo in the social space today. Voisey allows you to overlay instrumentals that you can record your voice over, which is different than TikTok’s vast library of popular hits.
The UI resembles TikTok and Voisey, which is ranked only 143 in iOS under Music category, has already proven to be culturally influential. The app is credited with helping the world discover Billie Eilish-like singer Olivia Knight (aka “poutyface”).
Voisey has only raised $1.88 million to date so the acquisition is a relative bargain. It also comes on the heals of another voice acquisition for Snap, voca.ai, which is aimed at an entirely different use-case, AI-based voices for call centers.
The Street liked the news, with $SNAP up around 4% on the reveal.
Snap is the leader in social AR but meanwhile, TikTok has taken over culturally. Voisey is a great acquisition to stay in the game. While TikTok’s library of music licensing deals is formidable, Voisey’s creator approach may prove appealing. Snap will need to catch up on the licensing deals, but we like how they’re thinking. Any trouble for TikTok with US regulators will prove to be a tailwind for $SNAP.