Reddit (RDDT) stock drops 5% as Meta launches Forum app for Facebook Groups (original) (raw)

Facebook has quietly launched a direct competitor to Reddit.

Meta has launched a new app targeting Facebook Groups called Forum. The new app "gives a dedicated space built for deeper discussions, real answers, and the communities you care about" according to the technology behemoth. Reddit's stock reacted negatively to this news, dropping over 5% on the day.

Source: Apple App Store

Apparently even Meta agrees that the Facebook feed is too much of a mess to navigate. Forum will provide users a place built just for interacting with Facebook Groups. The official name of the app is Forum, a Facebook app and it is available now on Apple App Store.

The company did not really announce the app's release, so this appears to be a bit of a soft launch. Forums, a Facebook app is also not currently listed on Google Play Store, so Android users will still have to use the Facebook app to interact with Groups for now.

Reddit (RDDT) shares dropped 5% on news of Meta's more direct move into the wonderful world of online forums.

Keep it locked on Shacknews for all of the latest Meta news and let us know what you think of this new Forum app on our very own Shacknews Chatty comments section below.

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