By Noelia Fraguela
Marketing4ecommerce Content Manager
Reddit is a social bookmarking platform and news aggregator where users can add text, images, videos or links. It was launched in 2005 in the United States and almost 20 years later, it debuted on the stock market, reaching a market capitalization of $8 billion on its first day of trading (7.4 billion euros).
On March 21 , the company went public at $34 per share; by the end of the day, the value had already skyrocketed by 48% , placing the share price above $50. However, Reddit has yet to achieve profitability; this step represents a great opportunity to generate value for shareholders, which include Advance, the holding company of Condé Nast (main shareholder, which bought the platform shortly after its founding), as well as prominent figures such as Sam Altman of OpenAI, Peter Thiel of PayPal, actor Jared Leto and rapper Snoop Dogg.
The platform currently has a large reach, with more uae number data than 267.5 million monthly users and 73.1 million daily users. These figures, combined with the potential use of artificial intelligence to boost advertising, are attracting investors, who are betting on the platform's long-term profitability.
What is Reddit and how does it work?
This is how Reddit works
Reddit was launched in June 2005 by its creators: Alexis Ohanian and Steve Huffman , the latter having been the platform's SEO since 2015. Anyone can register for free on Reddit to share views, read news, or find entertainment or content about their specific interests and it is currently one of the most visited sites worldwide.
To put it briefly, we can say that Reddit is an aggregator of content determined by its community , that is, a social network in which users upload posts that can receive upvotes or downvotes from other users : if the post receives many votes, it rises in its ranking within Reddit, and conversely, it will lose ranking if it has many downvotes.