64
Reddit is profitable for the first time ever, with nearly 100 million daily users (www.theverge.com)
submitted 2 years ago by to c/technology@hexbear.net
50 comments fedilink hide all child comments
 

Reddit just turned a profit for the first time. As part of its third quarter earnings results released on Tuesday, the company reported a profit of $29.9 million, along with $348.4 million in revenue — a 68 percent increase year over year.

The company hasn’t been profitable at any point in its nearly 20-year history. Since going public, Reddit lost $575 million during its first quarter on the market, but it decreased that loss to $10 million last quarter and is now finally in the black.

Reddit’s advertising revenue grew to $315.1 million, while “other” revenue reached $33.2 million on account of “data licensing agreements signed earlier this year.” Both Google and OpenAI have cut deals with Reddit to train their AI models on its posts.

you are viewing a single comment's thread
view the rest of the comments
[–] 23 points 2 years ago (1 child)

Too bad it's utter and complete shit to actually try to use now.

  • permalink
  • fedilink
  • source
  • hideshow 2 child comments
    •
  • [–] 20 points 2 years ago* (2 children)

    Can't even fucking use it when I have one account temp banned for some actual, straight up bullshit, which triggers a perma ban on my other account, FOR SOME REASON. It is literally impossible to just speak to a fucking admin to get help

    Had a third account. It got summarily banned for "hate" for telling the /r/judaism, or Jewish, I don't remember, to "cry more and support more genocide" when they banned me for calling someone a racist jackass (it was a thread linked here about some nurse crybaby sobbing wailfully over- GASP- A PALESTINIAN WEARING A KAFFIYEH) after they equated said kaffiyeh wearing with "wearing a hat that says FUCK JEWS"

    There's like 27 different layers of automated moderation automatic banning bullshit ostensibly to stop bots AND YET IT'S STILL FULL OF BOTS

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 4 child comments
    •