(Reuters) – Online message board platform Reddit Inc said on Thursday it is 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 for an initial public offering in December. The company is aiming for at least a $15 billion valuation, Reuters has previously reported.
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 that are similar to ones they are already a part of. It is the first new tab on the app that the company has launched in nearly two years, Reddit said.
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 increasingly gravitating toward video over the past year due to the viral popularity of short-form video app TikTok. Facebook owner Meta Platforms Inc on Tuesday rolled out its TikTok-like feature Reels to users in more than 150 countries.
(Reporting by Sheila Dang in Dallas; Editing by Shivani Singh)
