Reddit has been in the news in recent. From airing a 5-second commercial at the Super Bowl to sending the GameStop stock skyrocketing, they seem to have done it all! The cherry on top is a $250 million investment. Let’s dive deeper into all these interesting incidents.
Crux of the Matter
One Pricey Bowl!
In 2021, a 30-second in-game commercial spot during Super Bowl cost about $5.5 million. The same duration of time cost around $5.6 million back in 2020.
Reddit’s Static Ad
Reddit said it used up all of its marketing funds to get a 5 second Super Bowl ad slot. Their ad started with a video of cars followed by the following static image which many thought be a glitch.
The Reddit ad was among the most-searched Super Bowl commercials on Google on Sunday night. It received 270,000+ upvotes on Reddit as well.
Another Show Of Reddit’s Power
Members of the SubReddit r/WallStreetBets forum decided to send the GameStop stock skyrocketing last month in order to take on the short sellers that had bet against GameStop.
Read more about the GameStop Drama here.
Reddit Raises Money
Recently, the website raised $250 million in funding led by venture-capital firm Vy Capital, which took the social media company’s valuation to $6 billion.
Reddit aired a 5-second commercial that left the Super Bowl fans wondering if it was a technical glitch or an actual advertisement. Read about the details of that advertisement here.
- The Super Bowl is the second-largest day for U.S. food consumption, after Thanksgiving Day. In 2015, Super Bowl XLIX became the most-watched American television program in history with an audience of 114.4 million viewers.
- As of February 2021, Reddit ranks as the 18th-most-visited website in the world and 7th most-visited website in the US, according to Alexa Internet. About 42-49.3% of its user base comes from the United States.
- The name “Reddit” is a play-on-words with the phrase “read it”, i.e., “I read it on Reddit.” According to Reddit, in 2019 there were approximately 430 million monthly users, who are known as “Redditors.”