The Triller IPO will Never Happen, Plans to Merge with AGBA
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Triller has announced a merger with the Hong Kong financial services company, AGBA. Here is the announcement. It now appears the Triller IPO will never commence, but it will instead proceed with a SPAC merger.
When the deal closes, anticipated at the end of May 2024, Triller will be a wholly-owned subsidiary of AGBA. AGBA is a Nasdaq-traded stock (symbol: AGBA). Triller shareholders will own 80% of AGBA.
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Table of Contents
Notable Triller Merger News
05/06/2024: Triller withdraws NYSE direct listing
04/18/2024: L.A.-based Triller acquired by Hong Kong company
04/18/2024: Triller to Merge with AGBA
02/19/2024: Despite Setbacks, Triller Hasn’t Given Up on Listing
08/21/2023: Triller Files for Direct Listing
Older news…
About Triller
Triller is a social media company that is the closest U.S. competitor to China’s TikTok. The company could benefit if the U.S. restricts TikTok usage, though that scenario seems unlikely.
Its video platform and streaming service are popular with celebrities, combat sports participants and enthusiasts.
The company calls itself an artificial intelligence-powered platform ideal for engaging with fans, collecting engagement data, and monetizing an audience.
Triller is a video-sharing social network that puts the power in the hands of creators through powerful editing tools and monetization opportunities.
Triller partners with musicians, celebrities, influences, and athletes to promote significant events such as concerts and boxing matches (Triller Fight Club).
Founded in 2015 by co-founders David Leiberman and Sammy Rubin, Triller operates in Los Angeles, California.
Is Triller Stock Publicly Traded Today?
No. Triller is still a private company, but will become a wholly-owned subsidiary of AGBA when the merger closes.
Ownership
Current ownership consists of several individuals, a few venture capital firms, former owners of acquired companies, the founders, and company executives.
Triller listed “beneficial owners” who would have sold shares in the direct listing IPO.
Current Triller shareholders include Proxima Media, Ash Pournouri, Mahi de Silva (CEO), ClearVue Partners, Falcon Capital, Carnegie Technologies, Paul Kahn, Joseph Smarr, Bobby Sarnevesht, Adel Ghazzawi, Jack Kavanaugh, Mike Lu (former CEO), Philip Walsh, Paul Posner, Tsai Ming Hsing, Fubon Financial Holding Venture Capital Co., Mashtraxx, Total Formation Inc., and Metallica.
However, the IPO is unlikely now. A post-merger Triller will be owned by AGBA shareholders.
Valuation
The announced merger between Triller and AGBA indicates the combined valuation will be $4 billion, post merger.
IPO Potential
Triller will never IPO. On April 18th, 2024, the company announced that it would merge with the Hong Kong-based AGBA.
The Triller IPO date WAS expected in 2024. It filed for a direct listing and continued to update its S-1 filing (see filing below).
Triller WAS working with Cantor Fitzgerald as its financial advisor. As a direct listing, it would not have needed book runners or underwriters.
Other social media companies in line to IPO include Reddit, the Whatnot shopping app, Patreon, and the community platform Discord.
What is the Triller Stock Symbol?
The Triller stock symbol was anticipated to be “ILLR” as indicated in the SEC filing.
However, now that the company plans to merge with a Hong Kong conglomerate, the new Triller stock symbol will be AGBA.
Investors can own AGBA to gain investment exposure to Triller.
What is the Triller Stock Price?
There is no Triller stock price. It remains a private company for now. It will eventually become part of AGBA barring a failed merger.
Where is the Triller S-1 Filing?
Triller filed for a direct listing IPO in August 2023 and released its S-1 to the public. It is no longer relevant since the company plans to merge with AGBA.
However, it still contains interesting information about the company before the merger.
The company has updated the filing monthly since then. Below is an embedded PDF version of the Triller S-1 filing from January 16th, 2024.
Here’s a link to the most recent Triller filings list. Amended S-1 filings should appear there when released.
In the meantime, you can check out the most recent S-1 filings in our filings feed.
How to Invest in Triller Stock
Buying private shares will likely become more challenging as Triller approaches the completion of its merger. Current shareholders are less likely to liquidate in private transactions when a public transaction is near.
Aspiring shareholders can increase their chances of Triller ownership by taking the actions outlined below.
1. Buy AGBA stock
Buy AGBA stock today to own Triller after the merger completes.
2. Monitor Triller stock availability on pre-IPO investing platforms
Though unlikely now that Triller plans to merge, investors may be able to gain access to private shares before the merger completes
Investors can monitor pre-IPO investing platforms such as EquityZen, Equityzen, Hiive, Forge Global, and Linqto for share availability.
Expect to pay at least a $10,000 investment minimum. In some cases, the minimum investment is much higher.
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Triller News Archive
08/14/2023: Triller Prepares for Its Public Launch
09/29/2022: Triller Secures $310 Million Equity Funding
08/03/2022: Triller promised millions to Black creators
06/14/2022: Triller calls off SPAC Merger
12/13/2021: Metallica Becomes Investor in TrillerNet
12/13/2021: Triller owner in SPAC merger talks to go public
Conclusion – Triller IPO
Triller is a popular social media app known for fan interaction and combat sports content.
The company announced a merger with AGBA on April 18th, 2024. An IPO is now highly unlikely. The merger should proceed to complete, and Triller will become a wholly-owned subsidiary of the Hong Kong-based AGBA, which trades on the Nasdaq marketplace.
Investors who want to own Triller stock should buy AGBA now that a Triller IPO is unlikely.
* Disclosure: The web page contains affiliate links from our partners. If a reader opens an account or buys a service from a link in this article, we may be compensated at no additional cost to the reader. Opening an account with a broker that provides access to IPOs does not guarantee the customer allocations of specific IPOs. The author is long HOOD and the Fundrise Innovation Fund. This article is not a recommendation to buy or sell Triller stock.
Craig Stephens is a former IT professional who left his 19-year consulting career at the IRS to be a full-time finance writer. A DIY investor since 1995, he started Access IPOs in 2016 to provide a resource for ordinary investors pursuing access to IPOs. Craig studied Finance at Michigan State University and lives in Northern Virginia with his wife and three children. Learn more about Craig.
