Technology

37720 readers

6 users here now

A nice place to discuss rumors, happenings, innovations, and challenges in the technology sphere. We also welcome discussions on the intersections of technology and society. If it’s technological news or discussion of technology, it probably belongs here.

Remember the overriding ethos on Beehaw: Be(e) Nice. Each user you encounter here is a person, and should be treated with kindness (even if they’re wrong, or use a Linux distro you don’t like). Personal attacks will not be tolerated.

Subcommunities on Beehaw:

This community's icon was made by Aaron Schneider, under the CC-BY-NC-SA 4.0 license.

founded 2 years ago

MODERATORS

TheRtRevKaiser@kbin.social

141

Reddit is profitable for the first time ever, with nearly 100 million daily users (www.theverge.com)

submitted 2 weeks ago by alyaza to c/technology

79 comments fedilink hide all child comments

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.

you are viewing a single comment's thread
view the rest of the comments

[–] OpenStars@discuss.online 2 points 2 weeks ago

Definitely Reddit's buildup was smart. The transition to profitability not so much. Although we'll see.

Man, remember all those who kept arguing against it? I would say "Reddit is dying", and these new accounts that had never visited my sub before we decided it should go dark suddenly appeared and started talking crap about anyone who criticized Reddit. That should have been a smoking gun alone for people to realize what was going on. But instead, people just said "yup, that's Reddit for you". Which extremely unfortunately... they were right, bc that is what it had become by that time.

i.e., spez didn't kill Reddit by denying the usage of third-party apps - that was merely the final nail in the coffin for many of us, topping off a process that had begun several years earlier.