Reddit’s value is going up!
Following its recent capital injection from Fidelity, Reddit, the ancestral cradle of memes, is now valued at $10 billion. Over the last 2.5 years, the value of the social media firm has more than quadrupled.
The flood of exposure Reddit earned for its involvement in the meme stock craze this winter, according to CEO Steve Huffman, attracted new users, marketers, and cash.
Despite its colossal cultural impact, Reddit is still a guppy in a shark-infested sea.
Reddit engages 52 million users daily, compared to 206 million for Twitter and 293 million for Snapchat.
Last quarter, Reddit earned $100 million in ad income, up 192 percent year over year, but well short of Twitter’s $1.2 billion and Facebook’s $28.6 billion.
Nonetheless, that guppy has made a reservation on the East Australian Current. Reddit is intent on enhancing its site—for example, by boosting video sharing—and adding additional workers to a workforce that has quadrupled in the previous year and a half, according to Huffman.
Whats next?
Huffman told the New York Times that Reddit is “still working on going public,” but that there is “no definite date yet.” Until then, we’ll be lurking on r/SecurityAnalysis.
Government Demographic census is out
The census, which takes place every ten years, helps Americans know the answer to the most fundamental of questions: Who are we? And why are so many people relocating?
Yesterday, the government released the first comprehensive data from the 2020 census, depicting a country that is more racially diverse, urban than it was a decade ago.
What’s at stake:
Politicians will utilise data on where people reside in a bitter struggle to alter voting district borders.
Many firms will use these figures to guide market research, expansion plans, and local labour circumstances.
It influences where governments spend their money.
Please send me the specifics.
The top statistic: Over the last ten years, the United States has become far more ethnically diverse. For the first time in history, the non-Hispanic white population fell (2.6 percent), dropping to its lowest proportion of the overall population ever. All of the population growth over the previous decade has been driven by people who identify as Hispanic, Asian, or multiracial.
Still, population growth has slowed: between 2010 and 2020, the US population grew by 7.4%, the slowest rate since the 1930s. It’s a bad tidbit. Less population growth means less economic growth, and a baby boom caused by the epidemic threatens to stifle the US economy even worse.
Cities are growing in size, while rural regions are shrinking: “Population increase was virtually completely in urban areas,” according to Marc Perry of the US Census Bureau. The population of 52 percent of all counties decreased.
Chris Paul is aware that Phoenix has surpassed Philadelphia as the United States’ fifth-largest metropolis, after only New York, Los Angeles, Chicago, and Houston. The shift in the ranking mirrors a wider trend of individuals moving from the Northeast and Midwest to the South and West.
The Villages, in central Florida, is the fastest expanding metro region. Its population increased by 39% in the previous decade, yet its height decreased by three inches.
McKenzie County, North Dakota, is the fastest-growing county, having grown by more than 100 percent since 2010, mainly to the fracking boom.