January 10, 2020
As Reddit enters a new decade, the platform is hitting growth milestones that probably seemed like a pipe dream when it launched in 2005. With 430 million monthly active users, it's the fifth most-visited website in the United States and has a valuation of $3 billion. But for Chief Operating Officer Jen Wong, the song remains the same for Reddit.
"I actually don't think it's new, this growth, I think it's been happening over time," she explained to Cheddar's Michelle Castillo in an interview at CES.
"It's because people like the context, they like the realness, they like the fact that they can get together with people they may not know but have a shared interest and talk about the things they care about."
Reddit remains the go-to place for many when it comes to learning more about a particular subject from others like themselves.
"When you think about the internet, more people want to spend time intentionally. They want to spend time on things they care about," said Wong.
That is why the COO believes Reddit's ad business, which is only a couple of years old, offers brands an unparalleled opportunity.
"Somebody is seeking information or understanding, versus kind of scrolling through it, and they're in a mindset of openness, of trust, of looking for realness and information from their peers," she explained.
"It's an unduplicated mindset anywhere else in digital life."