Recently Senator Kamala Harris, Jordan Peele, Charles Schwab, and Toyota have acquired the services of Reddit to place an advertisement and to make a connection with their customers. The social networking platform has gained a high level of popularity and has attracted a wide range of investors.
Back on March 11, 2019, Reddit had made an announcement that it has raised $300 million on a valuation of $3 billion. At present, there are many businessmen who are investing in the company, a few days back Tencent had made an announcement that it is planning to invest $150 million in Reddit.
While speaking to the press one of the spokesperson of Reddit told the reporters that the company is also planning to give tough competition to internet giants like Google as well as Facebook. The CEO of Reddit told the media that due to present investment deal, advertisers will take Reddit seriously. He further stated that unlike other net giants, Reddit does not have any foul play and does not advocate for malpractices.
Mr. Huffman also told the reporters that the company is focusing more on advertisement reinvention due to which it could easily target a large number of its users. According to one survey, at present Reddit has near about 330 million users. The CEO of Reddit further said that since Tencent prefers to invest in gaming thus it would be a good prospect for Reddit.
During the interview with the press, the CEO of Reddit also made it clear that the company is trying to focus on the market of the US. Mr. Huffman further stated that the main cause to do so is because the company is well aware of the work culture and environment of the country which will help it to establish its business in a better way. Mr. Huffman also gave more emphasis on the safety of the user as according to him it is considered as one of the most important aspects for the growth of the company.
