Benzinga | Aug 13, 2021 03:45PM EDT

TikTok Fever Catches On An Unusual Player After Facebook, Snap

* Discussion-based forum Reddit has joined the social media players from the likes of Facebook Inc (NASDAQ:FB) to Snap Inc (NYSE:SNAP) in emulating ByteDance owned TikTok's features to popularise short-form videos, TechCrunch reports.

* According to Reddit, most Apple Inc (NASDAQ:AAPL) iOS users should have a button on their app directly to the right of the search bar to show a stream of videos in a TikTok-like configuration.

* Users can upvote, comment, or share the video showing the poster uploader and the subreddit. Like TikTok, users can swipe up to see another video, feeding content from the user subscribed subreddits to and related ones.

* In December 2020, Reddit acquired Dubsmash, a TikTok competitor, for undisclosed terms.

* Reddit currently attracts 50 million daily active visitors and hosts 100,000 active subreddits.

* The Verge reported that Reddit's valuation crossed $10 billion after raising an additional $410 million in funding, further cementing its listing aspirations.

* Reddit community r/WallStreetBets' members drove a surge in stocks of several companies like GameStop Corp. (NYSE:GME) and AMC Entertainment Holdings Inc (NYSE:AMC) in what they describe as a fight against short sellers.

* Photo by S K from Pixabay