Reddit achieves profitability for the first time, with stock price soaring by 25%
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On October 30th, social media platform Reddit achieved its first profit in just a few months after going public, driving its stock price up 25% to a historic high. During a conference call with analysts, Reddit executives stated that their investment in advertising technology is yielding returns, which aims to improve advertising effectiveness while also using "machine translation" to automatically translate content into various languages to expand their audience. The company currently has nearly 100 million daily active users.
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