Reddit has been around since 2005, but it reemerged as a trend-setting and disruptive platform this year — and chief marketing officer Roxy Young has been at the forefront. Promoted from VP of marketing in November, Young seized on Reddit’s place in culture as it became a centerpoint for community organizers around the election, stock trading (anyone remember GameStop?) and COVID-19.
Reddit tapped into its community for the creative inspiration behind innovative marketing campaigns. The platform famously spent its entire marketing budget on a five-second blip Super Bowl ad that nodded to the power of its community. Growing to more than 52 million daily active users, Reddit became the seventh most popular social media app in the U.S. in 2020, peaking around the r/GameStop saga in January.
Since then, the platform has launched its own in-house creative agency, KarmaLab, to help brands tap into its community. One such example: KarmaLab helped Taco Bell place a story about a man who traveled thousands of miles for a limited-edition menu item within relevant Reddit communities, leading it to go viral on the platform. Reddit is currently valued at $5.8 billion as of February, doubling its market cap since 2019.