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BREAKING: @Reddit Hits 2 Years as a Public Company on NYSE ( $RDDT) Inside Reddit's SF HQ w/ Founder & CEO Steve Huffman How they cracked the social media + AI $$ model: ads, AI data, bots, & the “ass in seat” rule Record Stats: • $2.2B Annual Revenue FY25 (+69% YoY) • 24B+ Posts & Comments • 121M Daily Active Uniques • 471M+ Weekly Active Uniques • 100K+ Active Communities “Users hate ads, but they love brands.” “Reddit creates virality, but itself is not viral.” “Reddit is the world’s greatest bullsh*t detector.” Reddit officially went public on March 21, 2024, trading on @NYSE @lynnmartin We discuss: • The IPO strategy that worked (& why to price for momentum) • From $12M → $2.2B: Reddit’s business evolution • Why 40% of conversations are commercial • How Reddit built a winning ads + ad tech engine • Becoming core infrastructure for AI (“fuel for AI”) • Data partnerships w/ OpenAI + Google • Bots vs humans + Reddit’s “ass in seat” philosophy • Human verification w/o sacrificing anonymity • Why Reddit rejected engagement-driven social model • Leadership lessons from building for 20 years 𝐓𝐈𝐌𝐄𝐒𝐓𝐀𝐌𝐏𝐒 (00:00) Steve Huffman, Founder & CEO at Reddit (01:14) Why going public made Reddit stronger (05:40) What drove Reddit’s IPO success (08:30) Letting users buy shares at IPO price (10:51) What people get wrong about Reddit communities (14:10) Why Reddit ads work so well (18:40) Where does AI get its training data? (21:00) Bots vs AI pretending to be human (24:40) Internet’s truth detector (25:57) Why Reddit never became social media (28:10) How brands should actually use Reddit (30:20) Fake stories & why they still work (36:30) Human verification vs privacy online (40:30) What Reddit protects vs what it changes (42:10) Incentives & real human behavior (43:10) What metrics Reddit actually cares about? (44:50) From $12M to $2.2B how it happened (48:30) Where Steve gets his advice (50:40) Advice from Rich Barton on going public (51:22) Tour Inside Reddit’s SF HQ (53:20) How AI is changing engineering productivity (54:40) Why AI will not reduce engineers