Keep pulling the thread on Steve Huffman.
Reddit has 121 million daily active unique users and 471 million weekly active unique users.
Reddit's platform hosts over 100,000 active communities and contains a corpus of 24 billion posts and comments.
Reddit's annual revenue reached $2.2 billion last year, representing a 69% year-over-year increase.
As part of its IPO, Reddit executed one of the largest-ever directed share programs, allowing its users to buy stock at the IPO price of $34 per share.
Leading up to its IPO, Reddit experienced revenue growth of over 60% for five consecutive quarters.
Reddit achieved GAAP profitability in its first year as a public company, which was ahead of its internal schedule.
Reddit's IPO in March 2024 was priced at $34 per share, a significant discount from its last private round valuation of $61 per share in late 2021.
Reddit's data has been used to train every major large language model, according to CEO Steve Huffman.
Reddit has established formal data licensing partnerships with Google and OpenAI.
Around 2018, Reddit made a strategic decision to build its own ad technology and move away from programmatic ad networks to directly own customer relationships.
Reddit's CEO Steve Huffman believes the rigor, routine, and pressure of being a public company has made Reddit a better business.
Reddit initially planned to go public in 2022 but delayed its IPO until 2024 due to chaotic market conditions.