Reddit Rival Digg Is Making a Comeback, Using AI to Moderate | Entrepreneur

Reddit co-founder Alexis Ohanian, 41, has joined forces with former rival Kevin Rose, 48, to revive Digg, a social and link-sharing website Rose founded in 2004 — it was divided up and sold for parts to Betaworks, LinkedIn, and The Washington Post in 2012. The two intend to infuse the new Digg with AI content moderators, a move not yet implemented by Reddit.

The Digg of 2004 allowed users to share links that others could “digg” and upvote or “bury” and downvote, creating a place for trending news. Users could comment on links too, with the most popular content ending up on the homepage.

In its heyday, Digg attracted 40 million monthly unique users, but after a 2010 update removed the “bury” button, users revolted and left the site in droves, leading to its demise.

Read More

The White House joins Reddit and shares hurricane information | TechCrunch

On Tuesday, a White House official announced that the Biden-Harris administration has launched a White House account on Reddit, where it will release information about the work the federal government is doing. The decision was also driven by a need to meet “more people where they are,” noted White House Deputy Platforms Director Megan Coyne in a post on X.

The account, u/whitehouse, is now sharing critical information about the administration’s response to Hurricane Helene, including the over $37 million in assistance already approved for over 28,000 households. The account also noted there are more than 1,000 FEMA officials on the ground and over 1,200 Urban Search and Rescue personnel in the field who have now rescued or supported over 3,200 survivors.

Read More

Reddit Advised to Target at Least $5 Billion Valuation in IPO | Bloomberg

Reddit Inc. is weighing feedback from early meetings with potential investors in its initial public offering that it should consider a valuation of at least $5 billion, according to people familiar with the matter, even as it is estimated below that figure in the volatile market for shares of private companies.

The San Francisco-based social media company and its advisers are targeting a valuation in the mid-single-digit billions, the people said, asking not to be identified as the information is private. The ultimate figure will depend on the IPO market’s nascent recovery, the people said. Reddit is considering a possible listing as soon as March, the people said.

Read More

Reddit plans to launch IPO in March, report says | TechCrunch

Reddit is preparing to launch its initial public offering (IPO) in March, according to a new report from Reuters. The report notes that the move comes more than three years after the San Francisco-based social media platform first began eyeing an IPO. Reddit is planning to make its public filing in late February and complete the IPO by the end of March.

The company is looking to sell around 10% of its shares in the IPO, and will decide on what IPO valuation to pursue closer to the time of the listing. However, Reuters sources cautioned that Reddit’s IPO plans could potentially be pushed back, which has happened in the past.

Read More

An online gambling site is taking bets on the future of Reddit | Fast Company

With more than 8,400 subreddits going dark to protest Reddit’s decision to start charging some third-party apps for access to the company’s application programming interface (API), the “front page of the internet” is looking pretty threadbare this week.

That may improve, in some cases, late Tuesday and early Wednesday as the 48-hour protest draws to a close, but many popular subreddits—including r/music, with over 30 million subscribers—say they will stop operating “indefinitely” until the situation is resolved, noting that their moderators are unable to do their work with the tools on Reddit’s official app.

So now, an online gambling site is laying odds and taking wagers about what happens next. And according to the oddsmakers, at least, it doesn’t look good for Reddit.

Read More

How Airbnb, Dropbox and Reddit Got Their First Customers | Inc.com

Even when you think you have a brilliant idea, it can take some convincing to get others on board.

Just ask some of today’s most successful founders. Airbnb, Dropbox, and Reddit are just a few companies who used some far out-of-the-box strategies to get their very first customers before becoming household names. Learn from their examples. Will they work for you?

Creating a viral moment that targets a specific community

Sure, they aren’t easy to pull off, but viral moments can be crafted with some strategy and dedication. When Dropbox launched in 2007, the cloud-storage company had a hard time bringing in new users. It ran a Google AdSense campaign, but it barely made a difference. So, co-founder Drew Houston, 39, decided to show, not tell. He made a video to demonstrate exactly how its storage worked, and posted it on the news aggregator Digg. Users on Digg quickly up-voted the video, and by the next day, the site had 70,000 new sign-ups, according to Dropbox, which noted that the Digg community of avid internet-users was an ideal target.

Read More

GameStop’s Massive Surge Creates A New Billionaire As Wall Street Bets Against Reddit Traders | Forbes

Fueled by a massive short squeeze pinning Reddit traders against a storied Wall Street short-seller, a mindblowing rally in GameStop shares has minted a new billionaire in Ryan Cohen, an activist investor eager to forge a turnaround for the brick-and-mortar gameseller.

According to filings, Cohen—the founder and former CEO of Chewy, the booming e-commerce firm focused on pet supplies–spent about $76 million buying up more than 9 million GameStop shares at the tail-end of last year as he mounted an effort to restructure the Grapevine, Texas-based firm.

“Unfortunately, it is evident that GameStop currently lacks the mindset, resources and plan needed to become a dominant sector player,” Cohen said in a public letter to GameStop’s board of directors in November, blasting the stock’s dismal performance at the time—it was down 85% over the prior five years. “GameStop needs to evolve into a technology company that delights gamers and delivers exceptional digital experiences–not remain a video game retailer that overprioritizes its brick-and-mortar footprint and stumbles around the online ecosystem.”

Read More

Inside Internet of Garbage: What When Wrong On Reddit | Forbes

hometopfeature_panel9_0_mainstory-1436977183 (1)Contract workers in San Francisco, processing thousands of complaints a day. Sweatshops in the Philippines, where outsourced labor decides what’s obscene and what’s permissible in a matter of seconds. Teams of anti-spam engineers in Mountain View, adapting to the latest wave of bots. An unpaid moderator on Reddit, picking out submissions that violate guidelines.

So much of the Internet is garbage, and much of its infrastructure and many man-hours are devoted to taking out the garbage. For the most part, this labor is hidden from plain sight. But in recent years, the garbage disposal has broken down. The social media companies have a harassment problem, the pundits have declared.

However, large-scale harassment campaigns are hardly new, and the barrage of crude and cruel messages and undesirable content is only a small part of what makes a targeted campaign a frightening experience for the victim. Yet this part of the equation—the part that is seemingly under the control of Silicon Valley—has received the most attention from the media, because it is the most public, visible and archivable. And as tech companies repeatedly fail to address the problem to everyone’s liking, the problem looms ever larger in the public imagination.

Read More.