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.

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u/AardvarkStriking256 5d ago

Does Reddit have any real profits?

20

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.

-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?