Reddit is gearing up for more mergers and acquisitions, the company told analysts on its fourth-quarter earnings call Thursday. Reddit CFO Andrew Vollero said the online forum site is looking for businesses that can either leverage Reddit’s scale — meaning their products become more influential when they grow on Reddit’s massive user base — or help grow the company’s user base.
“[We’re] it’s looking to buy capabilities, technologies and companies,” he said during the opening remarks.
Investors, obviously, wanted to know more — particularly what the company had in mind when it came to scaling opportunities.
In the Q&A portion of the call, Vollero clarified, “I probably wouldn’t think too much about scaled-up opportunities. I would just look at it as kind of a range of opportunities.” He reiterated that the company was looking for capabilities and technologies that could add to its business, noting that it had done so successfully in the past.
“It was really one of the secrets of our success,” he pointed out.
Vollero explained that Reddit’s adtech team in particular was adept at “infusing” acquired technologies rather than building these things themselves.
“It saves us six months to market, it saves us twelve months to market, and you have a proven product,” the CFO observed, believing these deals helped Reddit improve its monetization potential as an ad-supported business.
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However, Vollero cautioned that while adtech acquisitions have been what has worked in the past, the company is “not taking anything off the table.” That’s why he had mentioned that Reddit can buy companies that could offer when added to a company of its size.
The company in the quarter presented a strong profitswith revenue of $726 million, of which $690 million came from advertising. Its global daily active unique users rose 19% year over year to 121.4 million and earnings per share of $1.24 beat estimates.
Reddit also said it sees a growing opportunity to monetize its AI search product in the future, which raises the question of whether the company is also looking at that area for mergers and acquisitions.
Reddit, which has increased its investments in AI in recent months, including an AI search engine, has acquired startups in the past. In recent years, it has acquired adtech players and AI optimization tools, including Unforgettable AI in August 2024.
Designed to improve Reddit’s advertising tools, the acquisition joins a handful of others since 2022, including AI platform Spell, designed to boost Reddit’s machine learning capabilities. Spiketrap, focused on improved ad targeting. Oterlu, which developed machine learning tuning tools. and MeaningCloud, another startup bought to improve Reddit’s machine learning and text analytics capabilities.
