(Reuters) – Social media platform Reddit said on Wednesday it would launch several real-time features, including voting animations and typing indicators, some of which are already available on rival apps operated by Facebook and Twitter.
The company said these new features were being introduced to boost engagement on the platform that has fueled a ‘meme-stock’ frenzy in the recent past.
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.
Reddit, which was valued at $10 bln in a funding round in August, is seeking to hire investment bankers and lawyers for an initial public offering, two people familiar with the matter told Reuters in September.
(Reporting by Akash Sriram in Bengaluru; Editing by Ramakrishnan M.)