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

submitted 4 weeks ago by [email protected] to c/[email protected]

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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.

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[–] [email protected] 20 points 4 weeks ago

Really wonder how they plan to increase their revenue on the AI training data, especially now that a significant amount of their data is "poisoned" by the models they try to train