Reddit most subscribed communities 2024

As of February 2024, r/funny was the most popular community on the platform, with approximately 56.6 million subscribers. Subreddit r/AskReddit ranked second, with approximately 45 million registered Reddit users subscribing to the community. Subreddits are thematic communities in which registered users can publish posts and comment on other users' posted content. Users receive awards and likes (called 'upvotes') for notable or popular comments and posts.

Reddit IPO: how does Reddit make money?

Launched in 2005, Reddit is the self-proclaimed “front page of the internet” and one of the largest social forums available to global users. In 2023, the platform generated over 90 percent of its revenues via online advertising. In April 2023, the company announced it was monetizing third-party access to its API, thus creating a new revenue stream. After the announcement, Reddit did not have to wait too long to attract AI-based companies in need of training their artificial intelligence models. At the beginning of 2024, it was reported that Reddit had struck a 60-million-dollar deal with Google to license its large human interaction repository. Despite experiencing almost 91 million U.S. dollars in net losses in 2023, Reddit decided to enter the public market on March 21, 2024, at approximately 34 U.S. dollars per share.

Social media IPOs

The largest social media IPO recorded in the last 15 years was Facebook, valued at over 100 billion U.S. dollars upon its entrance into the public U.S. market in 2012. Despite the growth recorded by digital businesses in the first years of the COVID-19 pandemic, the social media market appeared to hit a standstill between 2020 and 2023, with large social media companies achieving lower valuations than expected. During this time, the digital environment witnessed smaller social media companies seeking IPOs: in September 2022, social video and streaming platform Rumble went public via a SPAC merger, with a valuation of only 2.1 billion U.S. dollars. In September 2023, social video app Triller filed its S-1, indicating a possible direct listing.

Reddit’s 2024 IPO might shake up the market and reignite the IPO trend for social media companies. On March 26, 2024, the micro-blogging social media app Truth Social went public via SPAC merger. The app, which saw less than 100 thousand downloads in February 2024, was funded by former U.S. president Donald Trump.