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Monday, December 23, 2024

Social Network “Reddit”: getting more and more popular

Reddit, once known as a niche platform catering to internet enthusiasts, has now evolved into a popular mainstream digital space. Initially seen as a strange and sometimes controversial part of the internet, Reddit has worked to become more accessible and user-friendly, moving away from its earlier, free-for-all environment. Over the past several years, Reddit has overhauled its platform by banning problematic communities, updating its moderation rules, and fostering a more welcoming environment. The result is a platform with stronger, community-driven moderation, where real users interact and share information, which has become increasingly valuable in a world filled with automated and often unreliable content.

The platform’s transformation is evident in its business growth. In 2024, Reddit went public with a valuation of $6.4 billion and reported its first profitable quarter. Reddit’s visibility has grown, partly due to search engines like Google giving priority to its user-generated discussions in search results. This visibility boost aligns with a rumored $60 million data deal with Google, although both companies deny any influence over search algorithms. As users have begun adding “Reddit” to their search queries for authentic advice and community discussions, the platform has become one of the most-searched terms on Google, indicating its growing role as a trusted source for answers.

Reddit’s rise is also due to competitors’ struggles. As platforms like Twitter face user disillusionment, Reddit has absorbed users seeking a more genuine and less commercialized experience. Reddit has even gained traction as an alternative for product reviews and personal advice, attracting users who previously relied on places like Amazon or Instagram for similar content. This appeal has not only increased user engagement but also attracted advertisers looking for genuine community interaction.

The platform’s user base has significantly grown. While Reddit’s daily logged-in users increased by 27% this past year, the number of non-logged-in users jumped by 70%, demonstrating its appeal to casual users. Despite this surge, Reddit remains smaller than major platforms like Meta or Snapchat, with about 97 million daily users. Nonetheless, industry experts believe Reddit could eventually challenge traditional search engines, as users increasingly view it as a more relatable alternative for trustworthy information and reviews.

Reddit’s journey to mainstream prominence wasn’t easy. The platform has faced significant controversies over content moderation and the presence of offensive content. However, Reddit has matured in its approach to moderation, aiming for a balance between openness and safety as it aims to attract investors and a broader user base. Its success with popular communities like r/WallStreetBets during events like the GameStop short squeeze in 2021 highlighted Reddit’s growing influence beyond niche circles.

Reddit’s growth strategy includes leveraging AI and expanding its international reach through machine translation, which has helped it attract users outside the United States. Going public has motivated the platform to foster a safer and more welcoming environment, understanding that transparency is crucial for a publicly traded company.

However, not everyone is happy with Reddit’s mainstream shift. Longtime users miss the uniqueness and authenticity of the earlier, smaller community-focused platform. With more ads and brand presence, Reddit risks losing the qualities that made it appealing to its core users. Yet, the platform remains in a “sweet spot,” where it balances its growth and mainstream appeal without losing its essence as a place for honest discussions and genuine content.

Reddit’s mainstream success story reflects its evolution from an obscure online space to a major player in digital information and social media. It now stands as a valuable, user-driven source of insight in a landscape dominated by AI-generated content and heavily moderated social networks.

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