Triller has been dangle-teasing its plans for going public for a long time. And now, it looks like the short-form video company is heading for an IPO. On Wednesday, Triller filed an S-1 in order to list directly on the New York Stock Exchange.

The TikTok competitor has also previously attempted to go public through a SPAC in a $5 billion merger with SeaChange International, which has been cancelled; it had also attempted a direct listing last year, which was not successful.

Triller has had a few hard years, with lawsuits from Sony Music, Universal Music Group and rappers Timbaland and Swizz Beats, who created the Verzuz series. According to the filing, Triller was ordered to pay Sony Music about $4.6 million.
The platform has also been accused of not delivering timely payments to its Assembly for Black Creators (ABC), according to a report in
The Washington Post. However, Triller writes in its filing to go public that it expects to expand the ABC in 2023, and that it has paid out $2 million in monthly stipends and revenue share to this cohort of 200 creators.

From the S-1, Triller has generated more than $380 million in capital, taking some of that on as debt. It has now amassed 550 million sign-ups across all its products and services which includes the multiple acquisitions that it has done over the time, including Fangage, Julius, Amplify.ai, FITE TV, Cliqz, among others. It also has media properties such as Verzuz and the Bare Knuckle Fighting Club.

While Triller earned $47.7 million in revenue in 2022, it has lost money each year it’s operated. This is normal for a startup, but the losses are significant. The company lost $195.6 million last year, and in 2021, it lost $773.6 million.