Reddit's long-awaited IPO values the platform at $6.5 billion on 2023 revenues of $804 million, driven mostly by ads. Despite growth, it missed its 2021 goal and faces stiff competition from larger rivals like Snap and Meta.
We're always focused on the long term; we're continuing to invest in the roadmap. Reddit is making inroads with automation to make buying ads on its platform more efficient, aiming to grab ad spend from competitors like X and TikTok.
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