Reddit, Inc. (RDDT)

Reddit operates a global online platform made up of user-created communities, called subreddits, where people share experiences, links, images and videos, and reply to one another in comment threads on almost any topic. The company's stated mission is to empower communities and make their knowledge accessible to everyone. Content is curated by users through anonymous upvoting and downvoting, and volunteer moderators enforce community-specific rules, backed by site-wide Reddit Rules. Reddit has over 100,000 active communities and, through December 31, 2025, more than two billion posts and over 22 billion comments. In the three months ended December 31, 2025, it averaged 121.4 million daily active uniques (DAUq) and 471.6 million weekly active uniques.

Reddit makes money mainly through advertising, and it also pursues content licensing. Its ad platform offers contextual and interest-based advertising, auction bidding across objectives from impressions to conversions, automated bidding, Dynamic Product Ads, conversation summary add-ons, and brand safety controls, including third-party tools built with IAS. Reddit Pro gives businesses and publishers tools to build an organic presence and share and track content. Other products include Reddit Answers (an AI-powered conversational search tool), Reddit Insights (a social listening tool), Reddit Community Intelligence, Ask Me Anything features, and a limited test of verified profiles. It is exploring content licensing agreements with partners ranging from marketing intelligence and enterprise technology companies to financial services providers, since its conversational data is used in building and training AI and large language models.

Its users are Redditors, who may participate without disclosing their identities. About 57% visited from outside the United States in the latest quarter, and over 90% of posts were created in English. Machine translation is live in 35 languages, and international DAUq averaged 68.9 million, up 28% year over year. Advertisers range from small and medium-sized businesses to large enterprises and agencies. Reddit's largest verticals are technology and communications, business, legal and finance, and media and entertainment, and it is targeting automotive, retail, consumer packaged goods, pharmaceuticals, and food and beverage. Content licensing customers include AI, technology and financial services companies.

Reddit competes for people's time and for global advertising spend. Competitors include Google, Amazon, YouTube, Wikipedia, X, Meta, Snap, TikTok, Pinterest, Discord, Roblox, Twitch, Facebook Marketplace, Nextdoor, Craigslist, Poshmark, Etsy, and LLMs such as ChatGPT, Gemini and Anthropic. Its business is seasonal, with advertising spend rising in the fourth quarter and typically weakening in the first. It protects its intellectual property through patents, trademarks, copyrights, trade secrets and contractual agreements, and held about 400 trademark registrations and pending applications as of December 31, 2025.