Reddit is focusing on gathering a large user base to attract brands while keeping its core audience engaged, a challenge many platforms faced before. The platform's rapid evolution post-going public includes increased hires, new ad products, and agency tours, emphasizing the need to grow even faster.
Despite a 37% increase in daily active users and a 39% surge in ad revenue, Reddit faced significant losses totaling $575 million. The platform is exploring AI, licensing data for language developers, but faces skepticism over the sustainability of these gains as AI models evolve.
Upcoming challenges for Reddit include the U.S. election, inflation, and geopolitical events potentially impacting ad revenue flow. COO Jen Wong highlighted these concerns during the recent earnings call, pointing towards hurdles the platform has yet to overcome.
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