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ecwesche21

Reddit closes $50M financing round, valuing it at $500M - so will it have to grow up no... - 0 views

gigaom.com/...so-will-it-have-to-grow-up-now

reddit financing revenue

shared by ecwesche21 on 22 Jan 15 - No Cached
  • , has closed a $50-million Series B financing round that includes leading venture-capital firms Andreessen Horowitz and Sequoia Capital.
  • in an interesting move befitting the company’s overall approach, 10 percent of the shares issued in the financing round will be given to Reddit users.
  • money will likely intensify the pressure on the site to moderate its freedom-loving ways.
  • ...11 more annotations...
  • round is being led by Sam Altman, the CEO of Y Combinator, the startup incubator where co-founders Alexis Ohanian and Steve Huffman first launched Reddit in 2005 — and among the individual investors who are participating in the financing are two Y Combinator partners: founder Jessica Livingston and Gmail creator Paul Buchheit (Ohanian recently became a partner at Y Combinator).
  • individual investors in the round include early Facebook investor Peter Thiel, actor and singer Jared Leto, Eventbrite co-founders Kevin and Julia Hartz, Minted CEO Mariam Naficy and Reddit CEO Yishan Wong. Previous investors in an angel-only Series A last year included Ohanian, Reddit executive Ellen Pao, YouTube founder Jawed Karim, former Square COO Keith Rabois and Marc Andreessen.
  • gives Reddit more financial freedom than it has had in the past as a unit of Advance Publications, the parent company of the Conde Nast magazine family. Advance acquired the company in 2006 and spun it out three years ago as an independent entity, but retained control over its finances (and still owns more than half the shares, according to one report).
  • Reddit also convinced all of the investors in the financing to give 10 percent of their shares to users, “in recognition of the central role the community plays in reddit’s ongoing success.
  • crypto-currency that would be exchangeable for shares in the company
  • one of the most significant challenges for Reddit as it tries to justify the valuation it has been given is the tension between wanting to grow and reach a broader audience — and, most importantly, to reach advertisers who can help monetize the site — and the nature of the community itself.
  • One of the most powerful things about Reddit as a community is the freedom that it gives users, and especially the freedom to create forums on whatever topics someone happens to be interested in, including disturbing content like pictures of female corpses and links to bestiality.
  • Ohanian has talked in the past about the importance of Reddit’s commitment to free speech, even uncomfortable kinds of speech, and its commitment to anonymity
  • $500-million-plus valuation
  • need to attract advertisers and large media brands
  • desire to become more of a journalistic entity by giving users tools such as the live-reporting feature Reddit launched earlier this year
prigupta31

Reddit's Pick for New Ad Leader Shows the Site Is Getting Serious About Mobile - 0 views

www.adweek.com/...dy-knows-his-way-around-162462

Reddit Advertising Mobile Mobile Advertising

shared by prigupta31 on 24 Jan 15 - No Cached
  • prigupta31 on 24 Jan 15
     
    Looks like Reddit is following the mobile advertising trend! "Reddit recently bought Alien Blue, the app that lets readers access Reddit on mobile, to hone a more sophisticated approach to smartphones and tablets. Alien Blue is Reddit's first in-house app. Now, it has a vp of sales with experience in mobile advertising to go along with the product. 'Mobile is definitely one big area of investment for the company, so my background certainly plays into that,' Jandali said in a phone interview this week."
ecwesche21

Reddit Announces Plan for Revenue Sharing: Redditnotes | SocialTimes - 0 views

www.adweek.com/...209699

reddit revenue

shared by ecwesche21 on 22 Jan 15 - No Cached
  • In September, the site raised another $50 million and promised to give 10 percent back to the community
  • looking into creating its own crypto-currenc
ecwesche21

News Use Across Social Media Platforms | Pew Research Center's Journalism Project - 0 views

www.journalism.org/...-across-social-media-platforms

News

shared by ecwesche21 on 22 Jan 15 - No Cached
  • roughly two-thirds (64%) of U.S. adults use the site, and half of those users get news there—amounting to 30% of the general population. YouTube has the next greatest reach in terms of general usage, at 51% of U.S. adults. Thus, even though only a fifth of its users get news there, that amounts to 10% of the adult population, which puts it on par with Twitter. Twitter reaches just 16% of U.S. adults, but half (8% of U.S. adults) use it for news. reddit is a news destination for nearly two-thirds of its users (62%). But since just 3% of the U.S. population uses reddit, that translates to 2% of the population that gets news there.
  • LinkedIn news consumers stand out from other groups as more likely to be high earners and college educated.
  • A look at the five social networking sites with the biggest news audiences shows that a majority of news consumers on those sites (65%) get news from just one, and for 85% of those, it is Facebook.
  • ...2 more annotations...
  • Twitter news consumers are significantly younger than news consumers on Facebook, Google Plus and LinkedIn.
  • And Facebook news consumers are significantly more likely to be female than news consumers on YouTube, Twitter and LinkedIn.
ecwesche21

How social media is reshaping news | Pew Research Center - 0 views

www.pewresearch.org/...social-media-is-reshaping-news

News Pew Research

shared by ecwesche21 on 22 Jan 15 - No Cached
  • Many of these digital organizations emphasize the importance of social media in storytelling and engaging their audiences.
  • How do social media sites stack up on news?
  • Facebook is the obvious news powerhouse among the social media sites. Roughly two-thirds (64%) of U.S. adults use the site, and half of those users get news there — amounting to 30% of the general population.
  • ...9 more annotations...
  • Half of social network site users have shared news stories, images or videos , and nearly as many  (46%) have discussed a news issue or event.
  • although only 3% of the U.S. population use reddit, for those that do, getting news there is a major draw–62% have gotten news from the site.
  • YouTube is the next biggest social news pathway — about half of Americans use the site, and a fifth of them get news there, which translates to 10% of the adult population and puts the site on par with Twitter. Twitter reaches 16% of Americans and half of those users say they get news there, or 8% of Americans.
  • In addition to sharing news on social media, a small number are also covering the news themselves, by posting photos or videos of news events. Pew Research found that in 2014, 14% of social media users posted their own photos of news events to a social networking site, while 12% had posted videos. This practice has played a role in a number of recent breaking news events, including the riots in Ferguson, Mo.
  • visitors who go to a news media website directly spend roughly three times as long as those who wind up there through search or Facebook, and they view roughly five times as many pages per month.
  • Facebook users are experiencing a relatively diverse array of news stories on the site — roughly half of Facebook users regularly see six different topic areas.
  • most common news people see is entertainment news: 73% of Facebook users regularly see this kind of content on the site. 
  •  Unlike Twitter, where a core function is the distribution of information as news breaks, Facebook is not yet a place many turn to for learning about breaking news. (Though the company may be trying to change that by tweaking its algorithm to make the posts appearing in newsfeed more timely.)
  • social media doesn’t always facilitate conversation around the important issues of the day. In fact, we found people were less willing to discuss their opinion on the Snowden-NSA story on social media than they were in person.
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