I have been a member there for 12-14 years, I never see ads. Its value increased 1000 times between 2006 (original owners sold it for 10 M) and 2021. Even the COO gets 93 M a year, you go girl! For comparison Tim Apple, I mean Cook gets paid $99 mil in 2022 and $63 mil in 2023. That’s on $383 billion in revenue in 2023. Well, the actual salary is only 660K the rest was stock options. https://www.thedailybeast.com/reddi...-that-it-paid-ceo-dollar193-million-last-year Nineteen years after its founding, the social media network Reddit filed paperwork to go public on Thursday. “I have never been more excited about Reddit’s future than I am right now,” CEO Steve Huffman said in a letter announcing the news. Last year, the company generated $804 million in revenue, up more than 20 percent compared to 2022. Public filings also showed that Huffman and Reddit’s chief operating officer, Jennifer Wong, were paid $286 million in 2023, including stock and option awards (the value accrues over several years, and the current cash value is substantially lower). On average, over 76 million people visited the website each day in December, the company said. Huffman co-founded Reddit with his college roommate Alexis Ohanian, who is now married to Serena Williams; they sold the company for just $10 million in 2006. As of 2021, it was worth $10 billion. Huffman returned as CEO in 2015 and has been working to set the company up for an IPO. As one example of its financial prospects, news broke this week that Google will pay Reddit $60 million per year to use its content to train AI models.
https://www.sec.gov/Archives/edgar/...q423.htm#i1b9a579e78a34dfa99f7f26daeec195b_94 So last year the CEO's salary was 332K, this year was the big pay off in stocks. COO still got 30 M last year with stocks and even the CFO cleared 6.5 mil.
As far as I know the fools buy those tokens they sell, whatever they're called. It's a garbage platform, surprised it's around for so long.
they honestly could leverage all the info posted on there. It's the biggest collection of "online forums" in a way and I know at least duckduckgo pulls from there. Google algo is broken and often times I find myself searching finding answers on reddit.
76 million daily users can't be wrong. Just don't use it on your phone... What surprising is, why they didn't IPO like 10 years ago?
Angel investors don't like to wait an extra 10 years. Reddit is going to be overvalued at the IPO, and it would have been just as much overvalued 5-10 years ago. Nothing really changed in the operation of the website, except pissing of users by taking away 3rd party apps. With the same logic, why not wait another 10 years? Co. will be HUGE by then... Edit: I looked up revenue (data I could find, although I was looking for user growth) The revenue did grow a lot in the last 10 years: 2014: 8M 2015: 15 M 2016: 25 M 2018: 80 M 2020: 188 M 2022: 640 M 2023: 810 M What is interesting is that by 2014 Reddit was already 8 years old, yet the revenue was minuscule. I always thought it got money from the government for social data mining, because advertising was close to zero in the first 10 years. Monthly active users: 2014: 85 M 2019: 370 M 2023: 850 M So usership went up 10 times while revenue 100 times. Covid doubled the userbase in 2 years. They also probably think that they could be reaching over saturation, so there is little advantage of further waiting... Data is from: https://www.businessofapps.com/data/reddit-statistics/
Does anyone use reddit here? I have tried it. Way to sloppy and still can't figure out the way to get points to post, I Still don't get how it's so popular