50% Of User Traffic To Reddit Is From Google. Daily Active Users: 101.7 Million
(www.zerohedge.com)
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The stock market should factor in everything, including the propensity to cheat the numbers.
Which means not growing user numbers is probably a tipping point; the more bots they let in, the more actual people they lose so reddit can't keep the numbers growing.
That's why they spent +$14m R&D on translation so they can say 'but look international is still growing' to blunt the idea they have peaked.