Reddit on Top 100 List of most influential Companies - 2024

I have been working on a blogpost to compare Hive to Reddit , and this morning I read that Reddit is on the Top 100 List of most influential companies.

Image Credit - Times.com

Reddit made its debut on the New York Stock Exchange in March, marking the first major social media company to go public since 2019. The company showed impressive results with a 48% increase in revenue compared to the previous year.

Their advertising also saw a 39% increase year-on-year, which is great for them as they initially struggled to monetize the platform.

They have a massive amount of users, with nearly 83 million active users.

It will be very interesting to compare the number of users with Hive, as Reddit launched in 2005 and Hive only launched in 2016.

I firmly believe that if the Hive platform is marketed correctly, it stands a great chance to become much larger than Reddit. The question remains: why will people write on Reddit without compensation if they can be incentivized to write on Hive?

You can view the news announcement on Times.com here

In conclusion, while Reddit continues to thrive and expand its influence, Hive has the potential to offer a unique and compelling alternative. If managed correctly, Hive can overcome issues such as plagiarism, vote collusion, and content quality control, making it a more attractive platform for genuine content creators. Additionally, ensuring transparent governance, enhancing user experience, and fostering a supportive and engaged community can further elevate Hive’s appeal. By addressing these key areas, Hive could position itself as a viable and rewarding alternative to Reddit, especially for those who value decentralization and direct financial incentives for content creation.