After almost two decades of growth and adaptation, Reddit has finally turned a profit! According to its third-quarter report, the company posted a $29.9 million profit, driven by a revenue growth of 68% year-over-year to $348.4 million. This milestone marks a major turnaround, especially since Reddit went public earlier this year. Initially, they’ve reported losses of $575 million, but with aggressive cost-cutting and revenue-boosting measures, they’re now in the green, with $10 million in losses in the previous quarter.

A big part of Reddit’s success comes from a sharp increase in daily users, up 47% from last year, reaching a regular daily user base of 97.2 million—surpassing 100 million on some days. Along with this surge, their ad revenue hit a whopping $315.1 million! And where does that money come from? That’s Reddit selling data to OpenAI and Google to teach AIs what real internet arguments look like.

CEO Steve Huffman credits some of this success to AI-powered translations. Now, users from more countries can jump in on Reddit’s best discussions and debates, as posts are translated into French, Spanish, Portuguese, and more. And by 2025, Reddit’s aiming to have translated arguments in 30 countries worldwide—because who doesn’t want to read about pineapple pizza in five languages?

Between deals with sports leagues, spruced-up AMAs, and clamping down on bots scraping their content, Reddit’s finally making moves that seem to pay off. After all, who knew that years of memes, debates, and endless trolling would end up being… profitable?

Please note that I’ve generated the picture above using Meta AI and the generative fill feature of Photoshop. Quite fitting with the subject of the article, don’t you think?