- Entry
- $138.12
- Final
- $160.72 +16.4%
- Target
- —
- Score
- +1.00
Most of the discussion around Reddit right now is focused on traffic. Google AI → fewer clicks → weaker ad growth. That’s the obvious layer. But while going through the numbers, something else started to stand out. Reddit’s “other revenue” mostly data licensing is still small (\~$140M). But the structure of that business is very different from ads. Near-100% margins. No incremental cost. Pure leverage. And they’re renegotiating those deals right now. The shift is subtle: From fixed contracts → …
— ORIGINAL POST ·
Everyone’s debating Reddit’s traffic. No one’s modeling what happens if AI becomes its biggest customer.
· r/investing
· Mar 20, 2026