07-03-2015, 08:12 PM
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#61
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Franchise Player
Join Date: Dec 2010
Location: Calgary
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Quote:
Originally Posted by Hack&Lube
Reddit still claims to be in the red, IE: it's not actually profitable and it is a money-loser. There are no obvious ads on Reddit. It supposedly mainly derives revenue from selling Reddit gold and branded merchandise. Reminds of PBS fund-raising in some ways.
I can definitely see how the powers-that-be would want to make things a little more commercial at the expense of the dedicated community.
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This seems to disagree:
http://www.wired.com/2015/07/reddit-amageddon/
Quote:
But Reddit isn’t just an online community. It’s an ad-supported business. The company celebrated its 10th anniversary last week and, according to The New York Times, raised $50 million in venture capital last year, money it planned to use for hiring and improving its advertising business. The private company does not disclose its revenue, but it has been valued at roughly $250 million.
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