Social media platform Reddit said on Wednesday it would launch several real-time features, including voting animations and typing indicators, […] to boost engagement on the platform that has fueled a ‘meme-stock’ frenzy in the recent past. Reuters reports:
While Reddit has been a well-known internet name for years, attracting millions of experts and enthusiasts to its niche discussion groups, it has trailed behind other major social media sites in terms of its development as a business. Reddit’s new features are a departure from its current interface that so far provided no live information on topic pages and threads. Users would now see dynamic animations indicating new comments, upvotes and downvotes, Reddit said. They would also be shown anonymous avatars when two or more people are reading or looking to comment on a post. “These features are aimed at increasing engagement across Reddit. They answer our question of ‘if other redditors know other redditors are viewing the same content, will users be more likely to contribute?’ The answer: yes. This creates a better user experience and makes Reddit a platform that is engaging with rich media and real-time capabilities,” the company said in a statement.
Reddit is reportedly seeking to hire investment bankers and lawyers for an IPO. In August, the company was valued at $10 billion.