While the U.S. gave Huawei a 90-day reprieve, allowing American businesses to keep selling specific products to the Chinese firm, it also added more affiliates of the...Technologyread more
The attacks come after state and local ransomware attacks in New York, Louisiana, Maryland and Florida resulted in the loss of significant sums.Technologyread more
United States Steel Corp will temporarily lay off hundreds of workers at its Great Lakes facility in Michigan in coming weeks, according to a filing the steelmaker made with...US Marketsread more
While Hong Kong leader Carrie Lam painted a bleak picture of the city's economy, she expressed hope that dialogue with protesters could provide "a way out."China Politicsread more
China's pursuit of the Middle East may spur growth in the Islamic finance sector.World Economyread more
Twitter and Facebook have suspended accounts believed to be tied to a state-backed disinformation campaign originating from inside China.Technologyread more
U.S. President Donald Trump and his former White House communications director Anthony Scaramucci have had a public falling out recently.Politicsread more
The report comes as Trump in recent days has lashed out over media reports about growing recession fears.Politicsread more
Beijing will lower borrowing costs for companies, but that may not boost the economy as much as some hope.China Economyread more
Stocks are bouncing higher but could be trapped in a range longer term, until there's a resolution of the trade wars.Market Insiderread more
Stocks in Asia mostly traded higher Tuesday afternoon as minutes from the Reserve Bank of Australia's July meeting were released. The People's Bank of China also published its...Asia Marketsread more
Reddit's latest funding round values its users at a lower price than any other social network.
The company announced Monday it had raised $300 million in its Series D investment round at a valuation of $3 billion. CNBC previously reported the company's annual revenue topped $100 million, according to sources familiar with the matter, and at 330 million monthly active users (MAUs), this would make Reddit's average revenue per user (ARPU) about $0.30.
Reddit did not immediately respond to a request for comment regarding its latest revenue details.
That estimate would make Reddit's ARPU significantly lower than other social networks, even those with similar MAUs. Twitter, for example, reported 321 MAUs for its latest quarterly report, and with annual revenue of about $3.04 billion in 2018, that would make its ARPU about $9.48.
Facebook reported 2.32 billion MAUs in its latest report and ARPU of $7.37. Snap does not report global MAUs, but reported $2.09 ARPU in its latest quarterly report. ARPU for Facebook and Snap is based off of their quarterly disclosures.
Pinterest, which has yet to go public but is preparing for an IPO this year, says on its website it has 250 million monthly users. Pinterest declined to comment on their revenue, but a September article in The New York Times said the company was on track to top $700 million in revenue for 2018. That would bring its ARPU to about $2.80.
So, in descending order:
While Reddit's value per user is much lower than its peers, it is betting its access to a valuable demographic will appeal to advertisers and potentially even draw their dollars from larger rivals like Facebook and Google. The company said half of its MAUs are between the ages of 18 and 24.
"When we are talking about competing for ad dollars, of course we are talking about Facebook and Google, who take up the vast majority of ad spend," said Reddit CEO Steve Huffman in an interview with CNBC. "We are competing with anybody, or anywhere people spend their free time."
-CNBC's Julia Boorstin contributed to this report.