The daily number of Reddit users has grown by 47% compared to 2023 and is approaching 100 million people.
The American social network Reddit announced its first income in 20 years of existence. The Verge writes about it.
In its third quarter report, the company reported revenues of $29.9 million and revenue of $348.4 million, up 68% from 2023.
The first income was made thanks to a sharp increase in the audience. The daily number of Reddit users has grown by 47% compared to 2023 and is approaching 100 million people.
Since going public, Reddit lost $575 million in its first quarter on the market, but cut that loss to $10 million last quarter and is now in the black.
Reddit’s advertising revenue rose to $315.1 million, while other revenue reached $33.2 million.
We remind you that in Norway children under the age of 15 are prohibited from using social networks.
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.