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Reddit’s Ad Push: Two Steps Forward, One Back

Reddit’s ad business is beginning to take off, though not as quickly as some at the company had hoped.

The online news aggregator and discussion forum recently projected internally that it would boost revenue to more than $20 million this year, from single-digit millions last year, according to one person with direct knowledge of the company’s business and two people briefed about it. That’s thanks to some sizeable ad deals the company has struck after a more aggressive push lately. Despite the growth, it’s short of the ambitious target of $35 million that some people at the company hoped it could reach this year.

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The Reddit sales team estimates that only 10% of the available ad inventory on Reddit.com is being sold, said one person briefed on the situation.