Bloomberg Talks
Reddit Co-Founder and CEO Steve Huffman Talks Earnings
May 8, 2024
Reddit Co-Founder and CEO Steve Huffman talks about Reddit's user-to-user strategy and benefits from search following their first earnings report. They discuss AI adoption risks, data licensing, business strategy, M&A, multilingual capabilities, and Reddit's value as a platform.
08:51
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Quick takeaways
- Reddit focuses on user-to-user strategy for transactions and subscriptions to complement ads business.
- Utilizing AI for language translation enhances Reddit's global reach and communication across cultures.
Deep dives
The User Economy Strategy at Reddit
Reddit's user economy strategy involves building products and features to facilitate transactions between users on the platform, such as user-to-user gifting, subscriptions, and community subscriptions. Reddit aims to complement its ads business with this new model, focusing on scalability and user interaction. Additionally, Reddit is exploring AI and data licensing as revenue streams, emphasizing the importance of real human content in an era where machine-generated content is prevalent.
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