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A 192% of increase in the advertising revenue of Reddit


Co-founder & CEO of Reddit Steve Huffman told that the new funds raised would use its funding to further its international presence & explore content types. Huffman told about the company’s plans on TechCheck that the first order of business is making Reddit awesome, faster, more relevant& help it work for more people. Reddit will raise up to $700 million in a series of F fundraising rounds led by Fidelity management that increased its valuation by over $10 billion. Reddit has reached $100 million in its advertising revenue in the second quarter of 2021, which is an increase of 192% with the same period last year. 15 years ago Reddit was nothing but links & then text, images, third-part videos & our own videos were added. Reddit’s ability to host users a new content type like meme makes the company stand out. The site’s meme stock trading activity had led to a conflict with the Wall street establishment & pushed the US Securities & Exchange Commission to monitor closely the volatility of stocks’ trading prices The responsibility of Reddit is to create a community for its users, to find belonging, to come together.

Source: CNBC

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