Reddit Is Now Valued At $1.8 Billion USD And Has Plans To Look More Like Facebook
For some, Reddit’s pared-back design is part of the charm. But for others, it’s an instant turnoff. After raising $200 million in new venture funding, the news aggregator says it’s ready to catch up with the rest of the internet by undergoing a polished redesign.
The money has been donated by a number of Silicon Valley firms and individual investors, meaning the company’s overall value currently sits around the $1.8 billion mark. Reddit launched in 2005 and has remained much the same in terms of appearance, but co-founder Steve Huffman has confirmed the site will now undergo a full aesthetic overhaul.
“We have a lot of perception debt,” Huffman told Recode. “Reddit feels old. We don’t want to be associated with old.”
“We want Reddit to be more visually appealing,” he continued. “So when new users come to Reddit they have a better sense of what’s there, what it’s for.”
Recode then went on to claim that one of the early redesigns looks similar to Facebook’s News Feed or Twitter’s Timeline. In addition, the article claims that part of the money will be put towards beefing up its video operation to allow users to upload more easily.
Redditors – how do you feel about the plans to overhaul the site? Let us know in the comments below.