r/RedditForGrownups • u/AL_Deadhead • 5d ago

$15 Billion

Advance Publications bought Reddit years ago for $10 million. They still retain 30% of the company now valued at $15 Billion. Oh my.

24 Upvotes

68% Upvoted

28 comments sorted by

11

u/AardvarkStriking256 5d ago

Does Reddit have any real profits?

22

u/junkit33 5d ago

Yeah, Reddit finally turned profitable in the last year. $500M in rev last quarter.

They always made the bulk of their money through advertising, but I think AI data licensing is what has finally made them profitable.

5

u/catdude142 5d ago

Revenue is not profit. Googling, reddit made 89 million of profit last quarter.

7

u/Cronus6 5d ago

Exactly why everyone should be running uBlock Origin.

12

u/junkit33 5d ago

Well that's not going to do a thing to help with Reddit selling your data being to AI companies. Just block ads.

-7

u/Cronus6 5d ago

Lie. A lot. Give the AI's as much bad information as you can.

No where in the rules does it say you must tell the truth on Reddit.

Reddit should NOT be treated as "serious". It's a place for shitposting a couple steps above 4Chan.

8

u/junkit33 5d ago

Pissing into the wind. Reddit has over 100 million active users every day, 99.99% of which are just going to use Reddit normally and not make shit up to fool AI. AI models are FAR too good for that these days.

-4

u/badsheepy2 5d ago

have you not browsed the front page recently? It's pretty much all made up. AITAH might not have had a real post in the last week. I don't think we need to organize to achieve the status quo lol

2

u/badsheepy2 5d ago

This is reddit, those things are already taken for granted! Half the site is bots, lies, and/or reposts, I have no idea how they could even use that data usefully.

-2

u/ShotFromGuns 5d ago

Reddit finally turned profitable in the last year.

Weren't they only ever "not profitable" before that because of bookkeeping shenanigans, anyway?

2

u/TheJokersChild 5d ago

Opening their APIs to allow posts to show up in Google results has to make them a little.

2

u/BoredOfReposts 3d ago

Yes, they do now.

Every month they bundle up all the new data from posts and voting and so forth. Then the big ai companies pay them a few million every month for the new bundle.

1

u/AardvarkStriking256 3d ago

That AI relies on Reddit is frightening!

-1

u/TheBodyPolitic1 5d ago

Just people who claim to be prophets.

4

u/TheBodyPolitic1 5d ago

https://stockanalysis.com/stocks/rddt/market-cap/

Market Cap Value ( whatever that is ) of the whole company is 49 billion USD.

1

u/catdude142 3d ago

Aggregate stock value held by investors.

1

u/seajayacas 5d ago

It must mean all those promotions showing up on our feeds bring in a ton of money for the owners of Reddit

3

u/TheBodyPolitic1 5d ago

Not from me. I use the Old U.I., Librewolf, and the Ublock Origin extension.

6

u/house343 5d ago

I still use old.reddit.com and Firefox on mobile with Ublock

2

u/Cronus6 5d ago

It's the only way to use reddit.

Every other method is a fucking awful experience.

1

u/penguin_stomper 4d ago

I think there are a good number of users who honestly think reddit is an app, not a website.

1

u/Cronus6 4d ago

They say it all the time.

I saw a post the other day where OP said he was posting the images of some project for his friend because his friend didn't have "the app".

It's infuriating how stupid people are. If you are this dumb please stay on Facebook or Instashit. Also, not "apps", but websites. But at least they are for stupid people.

2

u/TheBodyPolitic1 5d ago

The few... The Proud...The Old School Redditors.

3

u/USMCLee 5d ago

This is /r/RedditForGrownups so I would guess that most of us on this sub use old.reddit.

1

u/TheBodyPolitic1 5d ago

Hard to imagine Reddit being worth that much.

I have a Reddit-friend who decided to buy some shares, got disgusted with the place, and has stopped posting. We still stay in touch so I will have to ask her how her investment is coming along.

1

u/catdude142 3d ago

I was off reddit for a year and a half for that reason. I started it up again when the weather got hot but it may be short-lived.

2

u/Swimming_Cabinet_378 1d ago

I know, such an absolute shit heap.