Overview

• Reddit's share price increased by nearly 7% following the announcement of new sports partnerships.
• The collaborations will bring video highlights, behind-the-scenes content, and AMA sessions to the platform.
• Reddit aims to capitalize on its engaged user base and the popularity of sports to attract more advertisers.
• The company has also signed AI-related deals with OpenAI and Google to enhance its platform.
• Reddit reported a 48% increase in first-quarter revenue, driven by its diverse revenue streams.