Reddit, the popular social news aggregation, web content rating, and discussion website has announced its plans to open a location in Toronto. As per the announcement, the Canadian flagship will include dedicated Management, Sales, Community, and Engineering teams. Following its rapid growth in the US market and expansion into the UK in 2020; the Canadian move was to be expected since it is home to the site’s third-largest market in terms of user traffic.
Globally, Reddit brings together more than 52 million Daily Active Users across more than 100,000 communities related to just about every topic — from pets to personal finance and everything in between. Recently, Reddit made headlines because of the coordinated actions of users on its subreddit forum, r/WallStreetBets, in buying shares of certain stocks and the subsequent controversy surrounding ‘the short squeeze’ and accusations of market manipulation.
The site is accused of not monitoring its chat forums adequately in favour of free speech. Reddit has made attempts to redress these concerns by making some changes to its moderation policies, as it looks to monetize of its ad revenue potential.
Reddit attracts a younger, more informed and diverse demographic. For example in Canada, they claim users skew young with 59% aged between 18 – 34, and more than 40% of users are female – who spend as much as 31 minutes per day on the site, placing it ahead of Instagram and Snapchat by some estimates.
