Reddit saw a 51% increase in daily active users globally and a 59% increase in the US in the second quarter, outpacing competitors like X and Meta who saw only 1.6% and 7% growth, respectively.
Reddit's success is attributed to its use as a search engine and partnerships with OpenAI and Google, reflecting a 54% year-on-year increase in revenue.
Steve Huffman, Reddit's CEO, highlighted that user growth continues to climb on the platform, driven by people exploring interests, engaging in conversations, and finding communities.
Daily active users signify engagement on social media platforms, crucial for generating advertising revenue; Reddit's growth showcases strong user interest.
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