Reddit IPO'd at $6.5 billion this year. It boasts over 1 billion monthly active users on its platform. Five major phenomena allowed Reddit to reach these milestones, including a shift in its target customer base, an unforeseen global pandemic, and a strategic partnership with Google. Reddit shed its ‘niche and nerdy' image by redesigning the platform UX and supporting interest-based communities, which allowed it to gain broader appeal. The platform's moderation system also allows it to succeed over competitors like Quora.