"Advertising on Reddit is rapidly evolving, and we are still in the early phases of growing this business," Reddit wrote in its IPO filing.
The company said advertisers were attracted to Reddit due to its "high-intent" audience, much of which is hunting for product recommendations.
And elsewhere, Reddit doesn't have the kind of e-commerce structure that Meta, TikTok, and Google have built, experts said.
It has poached ad talent from companies like Pinterest and Meta to grow its ad business.
Also last year, Jim Squires, a former longtime Meta ad exec, joined Reddit in a new role as EVP of business marketing and growth.
Persons:
it's, Reddit, Reddit hasn't, Brad Kay, Reddit didn't, haven't, TikTok, Jerry Daykin, Daykin, Carly Carson, Reddit doesn't, Anthony Macro, Harold Klaje, Klaje, Jim Squires, Jeff MacDonald, That's, MacDonald, PMG's Carson
Organizations:
Google, Business, Brand, Meta, Beam Suntory, PPC, Reddit, YouTube
Locations:
Meta