Reddit Revenue and Usage Statistics (2022)

David Curry

Updated: September 6, 2022

In a second attempt to be one of the first inductees of the startup incubator Y Combinator, University of Virginia roommates Steve Huffman and Alexis Ohanian built Reddit, which they labelled “the front page of the internet”.

The site functionality remains much the same as it was back in 2005. Users write posts, upload photos, videos and link to other parts of the internet. To organise the content, Redditors upload to specific subreddits. If the post receives a lot of attention, it may be featured on /r/all, the front page. 

A year after launch, Reddit sold to Conde Nast Publications for $20 million. Conde Nast owners Advance Publications moved Reddit to its own subsidiary a few years later. It remains the largest shareholder, although a recent investment by Tencent may have diluted its stake. 

Huffman and Ohanian, alongside other early Reddit employees Aaron Swartz and Christopher Slowe, left Reddit in the next few years. While many in the Reddit community liked the rather web 2.0 look, it began to lag behind the other social networks rapidly gaining traction, such as Facebook and Twitter. 

It wouldn’t be until 2015, after a succession of CEOs brought in by Advance Publications, that the original duo of Huffman and Ohanian would take back the reigns. At this point, Reddit had built a tight-knit community, but had several fundamental issues which scared advertisers and new users. 

While it took a few years, Huffman (led by ex-CEO Ellen Pao’s anti-harassment policy) began to ban a lot of the less desirable subreddits and dish out harsher punishments to those harassing, doxing and insulting other people.

Reddit still makes a slither of revenue from advertising in comparison to Facebook and Twitter, however it has started to see real progress, growing its ad business by 112 percent in the last two years. 

Huffman has preceded over a greater push to mobile. For the first 10 years of Reddit’s existence, it allowed third-party developers to build apps for the website, but in the past five years it has dedicated far more time to its first-party offering.

Reddit also updated its website and app, updating it to fit with the design trends of the past few years. This sparked pushback by Redditors, so web users are able to reset the design to the older version. 

The updates to design and harassment seem to have been critical to Reddit’s two recent funding rounds, the most recent valued the company at $6 billion. In 2020, Reddit was the epicentre of the /r/WallStreetbets short squeeze on hedge fund managers, using the Robinhood app. This drew in millions of new users to the platform.  

We have collected data and statistics on Reddit. Read on below to find out more.

Reddit key statistics

  • Reddit generated $350 million in 2021, primarily from its advertising business
  • Reddit has 52 million daily active users and approximately 430 million users who use it once a month
  • In 2020, Reddit received over 30 billion views every month
  • Reddit was valued at $10 billion in August 2021, almost doubling its previous valuation of $6 billion in February 2021

Reddit overview

TitleTitle 2
Launch date23 June 2005
HQSan Francisco, California
PeopleSteve Huffman (co-founder, CEO), Jen Wong (COO), Christopher Slowe (CTO), Alexis Ohanian (co-founder)
Business typePrivate
OwnerAdvance Publications (majority shareholder)
IndustryInternet, social

Reddit revenue

Reddit more than doubled its revenue in 2021, with the vast majority coming from advertising. It also launched a Reddit alt-coin, which can be gifted to other Reddit users.

Reddit annual revenue 2014 to 2021 ($mm)

YearRevenue ($mm)
20148
201515
201625
201750
201880
2019120
2020170
2021350

Sources: AdAge, eMarketer, TechCrunch, The Information

Reddit users

Reddit had 430 million monthly active users in 2020. That growth may have stagnated in 2021 and 2022, with Reddit reportedly citing a similar figure in its ad package in 2021.

Reddit annual monthly active users 2013 to 2020 (mm)

YearMAUs (mm)
201370
201485
2015120
2016170
2017250
2018330
2019370
2020430

Sources: Business Insider, Company data

Reddit daily users

Reddit started breaking out its users into MAUs and DAUs in 2020, reporting that 52 million users logged on daily to the app.

Reddit annual daily active users 2013 to 2020 (mm)

YearDAUs (mm)
201936
202052

Source: Company data

Reddit valuation

Reddit received two valuation increases in 2021, rising from $3 billion in 2019 to $6 billion in February 2021 and then $10 billion in August 2021.

Reddit valuation 2014 to 2021 ($bn)

DateValuation ($bn)
20140.5
20171.8
20193
Feb 20216
August 202110

Sources: CNBC, VentureBeat, WSJ

Reddit funding

Reddit has received over $1 billion in total funding since it received its first series in 2012. The majority of its funding came in the past two years.

Reddit cumulative funding 2012 to 2021 ($mm)

YearFunding ($mm)
20121
201450
2017250
2019550
2020919
20211328

Source: Crunchbase

Reddit monthly views

Reddit received 30 billion average monthly views in 2020, a 42% increase on the previous year.

Reddit average monthly views 2018 to 2020 (bn)

YearMonthly views (bn)
201814
201921
202030

Source: Company data

Reddit FAQ

How many minutes does the average Reddit user spend on the site?

Users spend on average 10 minutes 23 seconds on Reddit

How many posts are uploaded a year?

303.4 million posts were uploaded in 2020

How many comments were posted in a year?

In 2020, Reddit users posted over two billion comments and 49.2 upvotes

How many videos are uploaded to Reddit?

1.4 billion videos are uploaded to Reddit every month

How much of Reddit’s traffic is from the US?

According to SimilarWeb, over half of Reddit’s traffic is from the US

What is Reddit’s largest age demographic?

A quarter of Reddit users are between the ages 20-29

How many subreddits are available on Reddit?

There are over 2.2 million subreddits, 130,000 of which are considered active communities

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