Online discussion forum Reddit has announced a new video feed for its mobile app that would make it easier to watch the social network`s content in just one place. The interface is inspired by TikTok. The video feed can be accessed through a new button located right next to the search bar. Once the user taps it, the app shows full-screen videos in a vertically scrollable list.
The interface also features upvoting and downvoting buttons, as well as comments, sharing, and awarding.The new video feed shows not only content from the sub Reddit you follow but also suggested videos from other channels. However, Reddit declined to detail how the algorithm chooses which videos are shown to each user.
With TikTok becoming increasingly popular, other social networks have been investing more in videos. Social media platforms like Instagram and Snapchat have already revamped their apps` interface to make videos more prominent in an attempt to compete with TikTok. Reddit users will get access to the new video feed on iOS. It is unclear when the new feature will become available to Android users.
Reddit announced on Thursday, it would raise to $700 million in a Series F fundraising round led by Fidelity Management, giving it a valuation of over $10 billion, more than triple what it was worth in February 2019. The company said it had raised $410 million from Fidelity in its second funding round since the start of the year when small-time traders gathered on its platform in their battle against Wall Street institutions.