Reddit, one of the largest forums in the world, In its 20-year history broken new ground. The company recently held an event and published its financial situation report for the third quarter of 2024. Published data, Reddit made a profit for the first time revealed. There was also a significant increase in the number of active users of Reddit.

According to Reddit’s statements, this concerns the platform’s third-quarter turnover $348.4 million happened. $29.9 million of this money as net profit remained in the safe. Enter the stock market earlier this year, in the first quarter $575 million The company, which reported a loss, was able to raise cash for the first time in the third quarter.

Reddit’s monthly user base reached 100 million

Reddit made a statement showing that the number of monthly users has also increased. According to the company’s statement, the number of active users is in the third quarter There were 97.2 million. According to the statement, on some days more than 100 million active user reached. This data means that Reddit’s monthly user base has increased by 47 percent year-over-year.

Reddit CEO Steve Huffman made a statement about how the company is making a profit. According to this statement, the main reason why the platform is making a profit It was an AI-powered translation feature. Huffman predicts that the built-in translation feature will be available in 2025 to more than 30 countries He stated that it would be expanded.