HIGHLIGHTS
- In December, Reddit filed for an initial public offering (IPO) on a secret basis.
- Reddit now has 52 million daily users.
- Reels, a new TikTok-like function, was unveiled by Meta on Tuesday.
Reddit, the online discussion board platform, announced on Thursday the debut of a new Discover tab that would display photographs and videos from around the site in order to improve the aesthetic appeal of its mobile app.
The new feature comes after Reddit filed for an initial public offering (IPO) in December. According to Reuters, the business is looking for a valuation of at least $15 billion (approximately Rs. 112812.45 crore).
Reddit boasts 52 million daily users and is a famous online platform for individuals to get together in communities, or subreddits, to discuss topics including money, gardening, and health.
The Discover page will allow users to browse photographs and videos from subreddits similar to those they are currently a part of. According to Reddit, this is the first new tab to be added to the app in in two years.
During testing, one in every five users joined at least one new subreddit after utilising the Discover tab, according to a blog post by Reddit.
Because of the viral popularity of the short-form video app TikTok, social media businesses have been progressively flocking toward video over the last year. Meta, a Facebook-owned company, launched its TikTok-like function Reels to users in over 150 countries on Tuesday.
