Reddit

CEO Steve Huffman confirmed the plan in a video AMA released as part of the company’s earnings, as spotted by Ars Technica. Huffman hinted last year that Reddit was considering paid subreddits.

The company saw Daily Active Uniques (“DAUq”) increase 39 percent year-over-year to 101.7 million, according to its Q4 2024 earnings press release.

Dozens of subreddits announced they’re banning links to posts on X, following Elon Musk’s appearance at a Donald Trump event where he made a gesture that looks a lot like a Nazi salute.

Communities including r/hockey, r/NFL, r/NBA, r/MLB, and r/MLS are discussing the possibility, as reported by Awful Announcing.

Reddit is renaming its Content Policy — it’s now called the Reddit Rules. “The name “Reddit Rules” better reflects that our policies govern both content AND behavior on Reddit,” a Reddit admin says. “This is just a name change and doesn’t affect the content of the rules themselves.”

I’ve updated my story from yesterday if you’d like to see some of it.

Publishers like Rolling Stone and The New York Times are sizing up Reddit as a potential source of significant traffic, according to Adweek.

The platform saw an average of 91.2 million “daily active uniques” in the second quarter of 2024, which it says is “an all-time high and an increase of 51% year-over-year.” Seems last year’s protests may not have done all that much to drive users away long term.

It’s one of a few updates the company shared in a post how it will support Reddit communities during elections. Reddit also plans to release an “after-election report” in Q1 2025 about how things went on the platform and is experimenting with a dedicated tip line for moderators to escalate election-related concerns.

Keith Gill, the same Redditor who sparked a frenzy in 2021 has returned, and the stock is spiking again. The WSJ reports that in addition to E*Trade’s discussions, SEC officials are having “internal discussions” about whether the new posts amount to manipulation.

Reddit’s daily users grew 37 percent to 82.7 million during its first quarter as a public company. CEO Steve Huffman said on the earnings call that 60 percent of those users are logged out and coming mostly from Google.

It ended trading at roughly $50, which means the business is valued at about $9.5 billion. That’s quite a pop from the $34 that Reddit priced its shares at going into the IPO. As a result, everyone who bought in at that price— like Reddit power users — saw a nice gain today.

Reddit (RDDT) is officially open for trading. According to CNBC, Reddit and selling shareholders raised about $750 million from the IPO.

Reddit’s IPO, which will have the ticker symbol RDDT, is making its debut tomorrow. Sources tell CNBC it’s priced at the “top” of the $31 to $34 range it targeted, which puts the social platform at a valuation of around $6.5 billion.

Many of the Redditors I spoke to did not care for the IPO. I went on Marketplace to talk about the usefulness of Reddit as an online community — and why that may just be really difficult to make profitable.

In an amended SEC filing ahead of its IPO, Reddit warned potential investors that “...on March 18, 2024, Nokia Technologies sent us a letter indicating they believed that Reddit infringes certain of their patents. We will evaluate their claims.”

The company hopes to raise up to $748 million when it goes public by selling about 22 million shares at $31 to $34 per share, according to a public filing issued Monday after Bloomberg first reported the number.

Ahead of its IPO, Reddit announced a set of tools for businesses that want to be more active on the platform — including the ability to see which subreddits are mentioning a brand. For businesses, Reddit says it’s a way to “establish and grow a meaningful organic presence on Reddit.” In other words: the brands are coming.