Reddit is getting bigger.

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.

In a letter to shareholders, Reddit CEO Steve Huffman attributed the recent increase in users to the platform’s AI-powered translation feature. Reddit started letting users translate posts into French last year before expanding to Spanish, Portuguese, Italian, and German. Now, Huffman says Reddit plans to expand translation to over 30 countries through 2025.

  • Lvxferre@mander.xyz
    1·
    2 months ago

    This sounds familiar, almost as if history could perhaps, maybe, just possibly… repeat itself? Nah! (says spez)

    Digg, right? Yeah. Perhaps spez even knew that it would repeat, but was smart (and shitty) enough to jump off the ship before it happened.