Reddit is gearing up for more mergers and acquisitions, the company told analysts on Thursday’s fourth-quarter earnings call. Reddit CFO Andrew Vollero said the online forum site is looking for businesses that can either take advantage of Reddit’s scale — meaning their products will have a bigger impact when deployed across Reddit’s massive user base — or help grow the company’s user base.
“(We want to) buy capabilities, technologies and companies,” he said during opening remarks.
Of course, investors wanted to know more — especially what the company had in mind when it came to scaled opportunities.
In a Q&A session, Vollero clarified, “I probably wouldn’t think about scaled opportunities. I would just look at it as kind of a spectrum of opportunities.” He reiterated that the company was looking for capabilities and technologies that could grow its business, noting that it has been successful in the past.
“It was really one of the secrets of our success,” he emphasized.
Vollero explained that Reddit’s adtech team in particular was adept at “tucking in” acquired technologies rather than building these things themselves.
“They save us six months to market, they save us twelve months to market and you have a proven product,” the CFO noted, crediting the deals with helping Reddit improve its monetization capabilities as an ad-supported business.
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Still, Vollero cautioned that while adtech acquisitions have worked in the past, the company is “not taking anything off the table.” That’s why he mentioned that Reddit could buy companies that could deliver when it joins a company of its size.
The company reported strong earnings in the quarter with $726 million in revenue, $690 million of which came from advertising. Its global daily active unique users rose 19% year over year to 121.4 million, and its earnings per share of $1.24 beat estimates.
Reddit also said it sees a growing opportunity to generate revenue from its AI search product in the future, raising the question of whether the company is also looking for mergers and acquisitions in this area.
Reddit, which has been ramping up its investments in AI in recent months, including an AI search engine, has acquired startups before. In recent years, it has acquired adtech players and AI optimization tools, including Memorable AI in August 2024.
Designed to enhance Reddit’s advertising tools, the acquisition joins a handful of others since 2022, including artificial intelligence platform Spell, designed to bolster Reddit’s machine learning capabilities; Spiketrap, which focused on improved ad targeting; Oterlu, which developed machine learning moderation tools; and MeaningCloud, another startup bought to improve Reddit’s machine learning and text analysis capabilities.