Reddit had a massive week in downloads, breaking its own record for most daily downloads in 2022 and coming very close to Reddit's all-time best from last year when it was the hottest spot to talk meme stocks.
So, which meme stock was it this time? It wasn't...
Downloads grew sharply after r/place, an experiment Reddit first launched in 2017, was brought back for a few days.
On an average day, Reddit sees roughly 100,000 new downloads across the App Store and Google Play, according to our estimates. This week, as the four-day experiment was coming to a close, downloads more than tripled, with Tuesday clocking in over 360,000 new downloads.
Its previous all-time high, during the gamestonk days, was 364K, so we're not very far.
What's different here is that Reddit created this and not some influencer. That's great news for a company that's on its way to an IPO.
By the way, r/place, the experiment, let Reddit users place a single pixel on what started out as a blank canvas. The resulting graphic, which continued to overwrite itself as more users placed more pixels, is quite amazing. Check out the replay and you'll see what I mean.
December saw a curious split: downloads dropped 2% while revenue sat at $1.3B. ChatGPT and TikTok dominated both charts as the mobile industry enters a new maturity phase.
Wall Street bet $2 billion on Polymarket, and downloads surged 1,172% in December. The prediction market banned in 2022 is now where Wall Street looks for signals.