this post was submitted on 30 Oct 2024
141 points (100.0% liked)

Technology

37720 readers
272 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
alyaza@beehaw.org
TheRtRevKaiser@beehaw.org
gyrfalcon@beehaw.org
rs5th@beehaw.org
SemioticStandard@beehaw.org
TheRtRevKaiser@kbin.social
Los@beehaw.org
coldredlight@beehaw.org
remington@beehaw.org
141
Reddit is profitable for the first time ever, with nearly 100 million daily users (www.theverge.com)
submitted 2 weeks ago by alyaza@beehaw.org to c/technology@beehaw.org
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
[–] pineapple_pizza@lemmy.dexlit.xyz 12 points 2 weeks ago (1 children)

Dammit, all of you told me Reddit was going into the ground and I didn't invest lol

[–] SturgiesYrFase@lemmy.ml 11 points 2 weeks ago

Pffffffffffff...since when is it a good idea to get financial advice from randos on the internet?