Between 2015 and 2023, Reddit had yearly revenue growth rates of roughly 88, 67, 100, 60, 50, 57, 143, 47, and 20 percent. This averages out to 70%, with completely normal volatility.
However, ever since they IPO'ed, that volatility has vanished. The quarterly year-over-year growth rate has been sterilized into a very narrow range around 70%. Reported quarterly volatility in growth is now allegedly significantly lower than the yearly volatility before the IPO. That, of course, is complete BS.
[https://imgur.com/a/reddit-faking-no-more-volatility-revenue-growth-6Rp8Feb](https://imgur.com/a/reddit-faking-no-more-volatility-revenue-growth-6Rp8Feb)
This is what they have reported over the last seven quarters: 69, 69, 68, 78, 62, 62, and 67 percent YoY revenue growth. There is basically a zero percent chance that revenue would grow at this high a rate with this low of a volatility over 7 quarters. It has never happened anywhere else, not even close, including Reddit pre-IPO. They are in all likelihood manipulating the numbers, smoothing them out to fake a low-volatility, high-growth business.
It would also not be the first time Huffman has been caught cheating: in 2005, he created fake accounts; in 2016, he edited user comments; and in 2023, he lied about being blackmailed by the Apollo app developer.
