Company profile
SEC EDGAR ↗- Industry
- Services-Computer Processing & Data Preparation
- Listed
- NYSE: RDDT
- Incorporated
- DE
- Headquarters
- San Francisco, CA
- Fiscal year end
- Dec 31
Financials
FY2025- Revenue
- $2.20B
- Net income
- $529.7M
- Total assets
- $3.24B
| Fiscal year | Revenue | Net income | Total assets |
|---|---|---|---|
| FY2025 | $2.20B | $529.7M | $3.24B |
| FY2024 | $1.30B | −$484.3M | $2.34B |
| FY2023 | $804.0M | −$90.8M | $1.60B |
| FY2022 | $666.7M | −$158.6M | — |
Reported fiscal years from SEC filings (10-K) — SEC EDGAR ↗. Stratrix is a strategy publication, not a real-time financial data service.
Decisions on record
3 verified Decision Records on Reddit, and the casebook each one belongs to.
| Fork date | Decision type | The story | Casebook |
|---|---|---|---|
| 2023 | The Money Machine | Read the story → | The Money Machine Casebook → |
| 2023 | Culture Doctrine | Read the story → | Culture Doctrine Casebook → |
| 2023 | Founder Doctrine | Read the story → | Founder Doctrine Casebook → |
Run one of these yourself
The decisions Reddit faced, as kits you can run.
Each pack takes one of these decisions and gives you the framework, a deck for the room, a model that resolves to one number, and the sourced cases behind it. $499, one-time.
Business ModelThe Money MachineWhere does the money actually come from, and who sets the rate it comes in at?See the pack →People & ControlThe RefusalWhat does your doctrine refuse, and can you pay for it in a bad year?See the pack →People & ControlThe Founder ControlWhat does holding control cost you, and what must it be worth?See the pack →
The analyses
The Money Machine · Business Model
Reddit Cashed In the Moat Its Unpaid Moderators Built: $203M in AI Licensing
The 2023 API revolt looked like community versus capitalism. It was really a company collecting on a moat its unpaid moderators built — turning conversation into $203M of AI-licensing deals and its first profitable quarter, $29.9M, by Q3 2024.
8 min
The Culture Doctrine · People & Control
Reddit Has Two Owners Who Want Opposite Things. Its Whole Doctrine Is Pretending They Don't.
Reddit's culture doctrine says protecting volunteer-built communities is the moat. Then in June 2023 it tried to charge for the API and 8,800 subreddits went dark — exposing the contradiction at the company's core.
8 min
The Founder Doctrine · People & Control
Reddit's Cheapest Employees Are the Ones It Cannot Afford to Lose
In June 2023, more than 8,800 communities went dark and Reddit's site buckled. The blackout was led by roughly 60,000 unpaid moderators - whose entire labor was valued at a few million dollars against $804M in revenue. That's not a discount. It's a hostage situation.
7 min