A TikTok Competitor Is About to IPO—And It's Deeply Suspicious

“A flaming dumpster fire.”

“I can’t believe that company still exists.”

“A business so clearly a scam preying on unsophisticated investors that it will single-handedly cause the SEC to redo how IPOs work.”

These blunt assessments came from professional tech investors I spoke with regarding the upcoming IPO of Triller, a conglomerate of creator economy companies. Their harsh criticism reflects my own serious concerns about this company.

Even if you typically ignore tech IPOs, Triller deserves your attention. The company is supposed to serve creators and reduce the power of the big tech oligarchy. Everyone who cares about how information on the internet is monetized should hope for this company to be great. 

Unfortunately, this company's questionable business practices and lack of transparency merit strong skepticism. Fortunately, its recent S1 filing to go public provides an opportunity to examine its finances and operations. Triller's antics reveal broader issues that demand reform of the IPO process to better protect investors. Though entertaining, Triller's shenanigans have consequences we cannot ignore.

So what does this company do again? 

Just like how Mary Shelley’s Frankenstein monster was created by stitching together the discarded remains of people from the local village, Triller did the same thing with dead-in-the-water companies. It’s an amalgamation of, at my best estimation, 14 sorta useless companies that have been acquired and stitched together to create a creator economy monster.