Drew Vollero

While Reddit had plenty to crow about on the advertising front, it was less sanguine about the rise of generative AI search, which CEO Steve Huffman said is “not a traffic driver today.”

Happy first IPO-aversary, Reddit. (And happy 20th birthday.) The market got you a present. Reddit’s stock soared nearly 18% in after-hours trading on Thursday thanks to a revenue beat in the first quarter.

Advertising is still Reddit’s meal ticket – but until its ad revenue tops the $2 billion per year mark, it can’t really be considered competitive with other social platforms.

It’s been a tough year for Snap, as its stock tanks and its executive team flees the ship. Despite growing revenue 43% in Q3 to a record $298 million, Snap’s stock hit an all-time low in September of $10 per share. Snapchat is also bleeding daily active users after rolling out an unpopular redesign and facing increasing competition from Instagram. “Snap is struggling to […]

Snap reported earnings for the first time on Wednesday, and based on the results, Facebook CEO Mark Zuckerberg must be feeling pretty smug. Snap reported Q1 revenue of $150 million, a 286% increase from this time last year but below the expected $158 million. Net losses totaled $2.2 billion. Daily active users (DAUs) for the […]