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Reddit’s shares took a hit after Q4 user growth fell short of Wall Street’s expectations, averaging 101.7 million daily visitors against a target of 103.8 million. The slowdown is attributed to Google’s algorithm changes, which significantly impact Reddit’s traffic. Despite this, Reddit’s revenue soared 71% to $427.7 million, driven by new advertising formats and partnerships. CEO Steve Huffman emphasized ongoing investments in AI and search capabilities to diversify revenue streams and reduce reliance on Google. With a robust stock performance since its IPO, Reddit is now at a pivotal crossroads.
What strategies should Reddit employ to boost user growth amidst increasing competition?
Source: https://www.bloomberg.com/news/arti…twork-s-user-growth-slows?srnd=phx-technology
