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Reddit puts its plans for paid subreddits on hold

Reddit is reversing course on its plans to put some subreddits behind a paywall, at least for now. CEO Steve Huffman said the company is "shifting resources away" from the effort as it doubles down on search . During the company's recent earnings call, Huffman said that Reddit was "deprioritizing" its work on "user economy" initiatives in order to put more resources into turning the site into a "go-to search engine." In a follow-up AMA on Reddit, he confirmed this includes pausing work on paid

Reddit should be a 'go-to search engine,' Steve Huffman says

Reddit is going to be leaning even harder into search in the coming months. The company has already been working on a plan to integrate its LLM-powered search into its main search feature, but CEO Steve Huffman said he wants users to think of the site as an actual search engine. During the company's latest earnings call, Huffman said search is one of the top priorities for Reddit. "We're concentrating our resources on the areas that will drive results for our most pressing needs, improving the

Reddit shares jump as much as 20% on second-quarter sales and guidance beat

Reddit CEO Steve Huffman hugs mascot Snoo as Reddit begins trading on the New York Stock Exchange on March 21, 2024. Reddit shares jumped as much as 20% after the company reported second-quarter earnings on Thursday that beat on sales and guidance. Here's how the company did compared with LSEG estimates: Earnings per share: 45 cents vs. 19 cents expected 45 cents vs. 19 cents expected Revenue: $500 million vs. $426 million expected Reddit's revenue grew 78% year-over-year in the second qu

At 20 years old, Reddit is defending its data and fighting AI with AI

Reddit CEO Steve Huffman stands on the floor of the New York Stock Exchange (NYSE) after ringing a bell on the floor setting the share price at $47 in its initial public offering (IPO) on March 21, 2024 in New York City. For 20 years, Reddit has pitched itself as "the front page of the internet." AI threatens to change that. As social media has changed over the past two decades with the shift to mobile and the more recent focus on short-form video, peers like MySpace, Digg and Flickr have fade

Reddit CEO pledges site will remain “written by humans and voted on by humans”

Reddit is in an “arms race” to protect its devoted online communities from a surge in artificial intelligence-generated content, with the authenticity of its vast repository of human interaction increasingly valuable in training new AI-powered search tools. Chief executive Steve Huffman told the Financial Times that Reddit had “20 years of conversation about everything,” leaving the company with a lucrative resource of personal interaction. This has allowed it to strike multimillion dollar par