I wonder if advertisers have been leaving Reddit and if so, how many? I’ve honestly never seen a social media website/company ask for advertisers like this tbh.
I’m not a lot on social media to begin with, so I’m not sure.
Well few days ago their valuation by I think Fidelity got cut from 10b to 5.5b. That should tell you something
That was before the whole clown show. The valuation cut was dated May 31st
The cut was multi-staged and started middle of last year. The most recent cut was relatively small (10-15% iirc). As others have pointed out, that reduction doors not take into account the recent self-inflicted wounds.
I’ve heard unsubstantiated claims that traffic to the advertiser portal has dropped ~40% since the protests started
I personally reached out to about a dozen advertisers, urging them to reconsider their marketing efforts on Reddit. After privatizing the subreddit I had moderated for 12 years, it seemed like the next logical step.
I don’t see social media companies do this, I see billboard companies do this. On billboards that stay “please advertise on our billboard” for years.
There’s a difference though as a billboard is a physical spot that they are actively losing money on when not filled vs a random spot in your feed.
