Stratrix
Competitors · Reddit

Who are Reddit’s competitors?

Reddit names 12 companies as competitors in its latest annual report, on 2 fronts. 2 companies name Reddit back.

Skip to the field, head to head ↓Reddit company profile

Competitors it names1210-K for fiscal 2025
Companies that name it2in their own annual reports
Revenue, 2025$2.2B+69% on a year
Net margin24%Alphabet (Google) 33% · Meta 30%
Stratrix’s Take

Reddit is the smallest of six companies compared, yet the fastest-growing

Reddit's annual report names 12 competitors and sorts them into two fights. Four are AI models that retrieve and synthesize information. Nine provide content and communications services. Only Google and Meta appear in both, and X is named on its own. Reddit is fighting on two fronts at once.

Now look at the scale. Reddit's 2025 revenue was $2.2 billion. Pinterest had $4.2 billion, Roblox $4.9 billion and Snap $5.9 billion. Meta had $201.0 billion and Alphabet $402.8 billion. Yet Reddit grew 69%, against 36% at Roblox, the next fastest. Its net margin was 24%. Only Alphabet (33%) and Meta (30%) did better, while Snap ran at -8% and Roblox at -22%.

Snap and Pinterest both list Reddit among their rivals, and both say some of those rivals have greater resources. So the repeatable idea is this: Reddit is the smallest company in the group, but the others feel they must name it. The open question is whether growth this fast can hold against rivals that are many times its size.

The fronts

Where Reddit says it competes

AI models competing for information retrieval
GoogleMetaOpenAIAnthropic
“we face competition from large language models (“LLMs”) and other AI models that retrieve and synthesize information, such as those built by”
In its own words · 10-K for fiscal 2025
Content and communications services rivals
GoogleMetaWikipediaSnapPinterestTikTokRobloxDiscordTwitch
“We compete against many companies that provide content and communications services to online users”
In its own words · 10-K for fiscal 2025
Also named
X
Named back

Who names Reddit as a competitor

“Competitors such as Amazon, Meta (including Facebook, Instagram, Threads and MetaAI), Google (including Gemini, Lens and YouTube), OpenAI (including ChatGPT), Snap, Reddit, TikTok and X, many of which are larger and have significantly greater financial and human resources, offer users engaging content and commerce o…”

10-K for 2025
Snap2025

“Many of these companies, such as Alphabet (including Google and YouTube), Apple, ByteDance (TikTok and affiliated joint ventures), Meta (including Facebook, Instagram, Threads, and WhatsApp), Pinterest, Reddit and X (formerly Twitter), may have greater financial and human resources and, in some cases, larger user ba…”

10-K for 2025
Head to head

The field, from the filings

CompanyFiscal yearRevenueGrowthNet marginEmployees
Reddit2025$2.2B+69%24%2,555
Alphabet (Google)2025$402.8B+15%33%190,820
Meta2025$201.0B+22%30%78,865
Snap2025$5.9B+11%−8%5,261
Roblox2025$4.9B+36%−22%3,065
Pinterest2025$4.2B+16%10%5,265

Each company’s latest fiscal year as reported to the SEC, in US dollars; fiscal years end in different months. Rivals that report outside the US or in other currencies are not shown.

Customers

How concentrated Reddit’s customers are

“No customer accounted for greater than 10% of our revenues for the years ended December 31, 2025, 2024, and 2023.”
In its own words · 10-K for fiscal 2025
The moves

What the rivals have done lately

MetaCut roughly 8,000 jobs (2026-04)

The full layoff history

SnapCut 1,000 jobs (2026-04)

The full layoff history

RobloxAcquired Speechly

“On September 18, 2023 (the “Speechly Acquisition Date”), the Company acquired all outstanding equity interests of Speechly, Inc. and its wholly owned Finnish subsidiary Speechly Oy (together, “Speechly”).” filing

Decisions that shaped the field

Reddit Has Two Owners Who Want Opposite Things. Its Whole Doctrine Is Pretending They Don't.2023Never undone
Reddit's Cheapest Employees Are the Ones It Cannot Afford to Lose2023Never undone
Reddit Cashed In the Moat Its Unpaid Moderators Built: $203M in AI Licensing2023Never undone
Meta's 'Year of Efficiency' Lasted Exactly One Year. Then It Started Hiring Again.2023Walked back
Snap Lost $40 Million on Sunglasses in a Vending Machine. It Was Tuition.2017Never undone
Roblox Built a Flywheel That Spins on Other People's Work — and Keeps Most of the Spin2025Never undone
Questions

Asked about Reddit’s competitors

Who are Reddit's competitors?

In its annual report for fiscal 2025, Reddit names 12 competitors across 2 fronts: ai models competing for information retrieval and content and communications services rivals. 10-K for fiscal 2025

Which companies name Reddit as a competitor?

2 companies in our coverage name it in their own annual reports: Pinterest and Snap.

How does Reddit compare with its rivals?

Reddit reported $2.2B in revenue in its latest fiscal year, +69% on a year, with a 24% net margin. Alphabet (Google): $402.8B, 33% net margin; Meta: $201.0B, 30% net margin.

What are the alternatives to Reddit?

The companies Reddit itself names as competitors are listed above, front by front, each in its own report’s words. Which matters for a given buyer depends on the job, not the list.

Is your best customer building your replacement?

How much of your revenue comes from somebody who is also trying to replace you?

See the pack →

Sources: Reddit’s annual report for fiscal 2025; the annual reports of the companies that name it; each company’s financial data as reported to the SEC; Stratrix Decision Records. Analysis and data, not advice.

Tools to try

More from Stratrix

The Business Model Wizard

Make the seven choices that define your model, test your numbers against real companies, and meet the rival AI would build against you.

Free · about twelve minutesBuild your Model Thesis →

Stratrix Team

Every Casebook, three Strategy Packs a seat each year and Ask Stratrix, for teams that face these decisions all year.

$1,999 a year · $499 a seatWhat is included →

New analyses, by email

The defining moves in business, and what they teach, as they publish.

We'll email you a link to confirm. Unsubscribe anytime. Privacy policy.