What happened
When Reddit reported its third-quarter 2024 results on October 29, 2024, the company disclosed that its daily active uniques (DAUq) had exceeded 100 million on multiple individual days during the quarter for the first time — a symbolic milestone for the newly public platform. The quarterly average came in at 97.2 million DAUq, up 47% year-over-year, while weekly active uniques averaged 365.4 million, up 53%. The user-growth figures handily beat Wall Street expectations and sent Reddit's stock sharply higher in after-hours trading.
The surge reflected several converging forces: Reddit's international machine-translation push, the platform's growing prominence in Google search results, and a broader wave of users seeking authentic, human discussion amid AI-generated web content. Crossing the 100-million-daily-user threshold underscored how dramatically Reddit had scaled since its early years and validated, at least momentarily, the growth story it had pitched investors at its March 2024 IPO. The quarter, which also delivered 68% revenue growth and GAAP net income, marked a turning point in Reddit's narrative from perpetually unprofitable forum to fast-growing public company.