Online message board platform Reddit on Thursday said it is launching a new Discover tab that will show photos and videos from the site to make its mobile app more engaging.
The new feature comes after it was confidentially filed by Reddit for an initial public offering in December. The company is targeting a valuation of at least $15 billion (about Rs 112812.45 crore), as previously reported by Reuters.
Reddit has 52 million daily users and is a popular online platform for people to gather in communities, or subreddits, to discuss interests such as finance, gardening, and fitness.
The Discover tab will let users scroll through photos and videos from subreddits similar to the one they already have. Reddit said this is the first new tab on the app that the company has launched in nearly two years.
During testing, one in five users joined at least one new subreddit after using the Discover tab, Reddit said in a blog post.
Social media companies have been moving towards video over the past year due to the viral popularity of short-form video app TikTok. Facebook owner Meta on Tuesday launched a TikTok-like feature reel for users in more than 150 countries.
© Thomson Reuters 2022