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Reddit just turned a profit for the first time in 20 years and its Google and OpenAI partnerships played a surprisingly small part in it
It might surprise you to hear that, until now, the internet's favourite discussion hub hadn't turned a profit since it started almost 20 years ago. Now, in a letter to shareholders [PDF] (via The Verge), Reddit has just announced that it was profitable in Q3 2024 with a «Net Income of $29.9 million and net margin of 8.6%, an improvement of $37.2 million from the prior year».