Alexis Ohanian: Reddit Turned Down Google's Offer to Buy It | Entrepreneur
Reddit rejected Google's acquisition offer due to the offer's lack of significant value and Google's plans to integrate Reddit with YouTube.
Despite rejecting the acquisition offer, Reddit has maintained a strong relationship with Google, signing a $60 million deal in February 2021. [ more ]
Reddit Adds Dynamic Product Ads to Help Brands Reach Shoppers in the Discovery Phase
Reddit's communities heavily focus on purchase decisions and discussions about products, leading to a partnership with Google to utilize Dynamic Product Ads. [ more ]
OpenAI will leverage Reddit's Data API to enhance AI tools understanding and display of Reddit content, aiding in discovering and engaging with communities. [ more ]
Reddit Posts $575 Million Loss Tied to I.P.O. but Also Strong Growth
Reddit reported over $500 million loss due to stock-based compensation post-IPO, but showed strong revenue and user growth, indicating potential in digital advertising. [ more ]
Reddit has big plans for search ads and a mixed feed as it adjusts to life as a public company
Reddit's quest for growth while maintaining user base and profitability is challenging but shows promise with increased engagement and ad revenue [ more ]
Reddit's First-Ever Earnings Call Centers On Success In Search | AdExchanger
Reddit reported $243 million in total revenue, with an increased dependency on ads, leading to its first profitable Q1 and a growth in share price. [ more ]
Reddit's first quarterly earnings since going public: revenue and users increase
Reddit shares soared post-quarterly earnings, despite initial losses due to IPO expenses. Revenue up 48%, user traffic up 37%, aiming to grow revenue faster than costs. [ more ]
Social media company Reddit soars to $9bn valuation in Wall Street debut
Reddit's IPO saw shares soar nearly 50%, closing at $50.44, pushing its value to nearly $9bn.
Despite boasting 70 million daily users, Reddit has yet to turn a profit after its long-awaited IPO and faces challenges with a tumultuous history. [ more ]
Reddit's IPO has begun with shares soaring 60% within minutes | TechCrunch
Reddit's shares opened at almost $47 and quickly rose to around $55, a 60% increase from its IPO price of $34 per share. The peak share price reached $57.80 before dropping a few percentage points.
Despite Reddit's high revenue and losses, its AI contract sales worth $203 million show potential for growth. However, an FTC inquiry into licensing user data for AI models could impact investor interest. [ more ]
Old Google ad from 1999 resurfaces and people are pointing out how it has aged like milk
The evolution of advertising over time, particularly in technology, is evident through a 1999 Google ad showcased on Reddit.
The Google ad from 1999 highlighted the simplicity of the search engine by focusing solely on being a 'pure search engine,' free from distractions like ads and sponsored links. [ more ]