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Reddit is a public company based in San Francisco. [174] [112] In 2023, it downsized from an office in the Mid-Market neighborhood [175] to an office in the South of Market neighborhood. [176] Reddit doubled its headcount in 2017; [177] as of 2018, it employed approximately 350 people. [112]
Reddit went public in 2024 and is a more popular, profitable site than ever in its 20-year history. BI spoke to 11 Reddit employees about the new challenges and maintaining its beloved culture.
Reddit has turned a profit for the first time as a public company. The social platform claimed a profit of $29.9 million, or 16 cents per share, for the period ending in September, and reported ...
Yes, Apple is a nearly $3.5 trillion company these days, but if Reddit continues to rise in popularity, maybe it could match or even exceed the tech powerhouse's market value by the end of this ...
Steve Huffman, Reddit's CEO. On April 18, 2023, Reddit announced it would charge for its API service amid a potential initial public offering. [6] Speaking to The New York Times ' Mike Isaac, Reddit CEO Steve Huffman said, "The Reddit corpus of data is really valuable, but we don't need to give all of that value to some of the largest companies in the world for free".
He returned to Reddit full-time with co-founder Huffman in July 2015 to lead the now-independent company. [18] [19] [20] He stepped back from the company in February 2018 to focus on investing again. [21] In June 5, 2020, Ohanian resigned from Reddit's board, asking to be replaced by a Black candidate in response to the murder of George Floyd.[2]
Despite being in business for almost 20 years, Reddit has never turned a profit. Last year the company saw sales rise 21% year over year to $804 million. The net loss clocked in at $90.8 million.
They intend to integrate its video creation tools into Reddit. [85] 2023 Company Reddit moves its headquarters from 455 Market Street to 303 Second Street, both of which are located in San Francisco. [86] 2023: June–July: Product: Reddit announced new changes to its API pricing, effective July 1, that will force many third-party apps to shut ...