SAN FRANCISCO (REUTERS) — Online messaging platform Reddit Inc announced Thursday, Feb. 24, that it’s launching a new Discover tab that will feature photos and videos from across the site to make its mobile app more visually appealing.
The new feature comes after Reddit confidentially filed an initial public offering in December. The company is targeting a valuation of at least US$15 billion (S$20 billion), Reuters previously reported.
Reddit has 52 million daily users and is a popular online platform for people to gather in communities, or sub-reddits, to discuss interests such as finance, gardening and fitness.
The Discover tab will allow users to scroll through photos and videos from similar sub-reddits to those they are already on. It’s the first new tab app the company has launched in nearly two years, Reddit said.
In 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 increasingly turned to video over the past year due to the viral popularity of short-form video app TikTok. Facebook owner Meta Platforms rolled out its TikTok Reels-like feature to users in more than 150 countries on Tuesday.