Maggie Hoffman

Maggie Hoffman, on behalf of Doug Anmuth at JPMorgan Chase & Co., asked about the early learnings from testing 'Reddit Lite' internationally and the company's plans for a broader rollout.

Answer

CEO Steve Huffman explained that the key learning from the Reddit Lite test was that a simpler, cleaner user interface drives positive metric movement. Consequently, the strategy is not to launch a separate 'Lite' app but to incorporate these successful UI simplifications directly into the main Reddit application for all users globally.

Maggie Hoffman, on behalf of Doug Anmuth at JPMorgan Chase & Co, asked about the key learnings from testing 'Reddit Lite' internationally and the company's plans for a broader rollout of that experience.

Answer

CEO Steve Huffman clarified that 'Reddit Lite' was a successful test that demonstrated simpler, cleaner UI improves key metrics. He stated the focus is not on launching a separate 'Lite' app, but on incorporating the positive learnings—such as simpler post views and core interactions—into the main Reddit application for all users as quickly as possible.

Speaking for Doug Anmuth, Maggie Hoffman asked for more color on the macro environment's impact on ad budgets, particularly in US retail, and requested an update on the Microsoft partnership's progress.

Answer

CFO Sarah Glickman detailed a mixed macro environment, with travel and classifieds strong (up 28% and nearly 30% respectively), while retail, particularly discretionary categories, saw lower spending. CPO Todd Parsons reported good progress on the Microsoft partnership, with several retailer launches planned and the complex technical integration for real-time demand on track for completion by year-end.

Maggie Hoffman, on for Doug Anmuth, asked for a timeline on the US launch of the recently acquired Breakroom and inquired about the broader strategy for monetizing new products and features over time.

Answer

Executive David Travers stated that the Breakroom integration is performing well in the UK and that work for a US launch is underway, with updates expected in 2025. Executive Ian Siegel elaborated on new product strategy, explaining that for features like ZipIntro and the new Resume Database, the immediate focus is on maximizing value and gathering customer feedback. He noted that while these products will contribute to 2025 revenue, the impact will not be material to full-year results, with a greater focus on customer satisfaction initially.