Reddit has just announced that it will be opening an office in Sydney. In other words, r/Australia is happening for real.
The new office will be located in Barangaroo in Sydney, and it will be made up of local community, engineering and sales staff.
“We’ve been fortunate to experience strong organic growth from our Australian user base in recent years, and with this comes a significant opportunity to level-up our local offering in a more focussed and nuanced way,” Reddit Chief Operating officer, Jen Wong, said in a statement.
“From building out our highly engaged Australian communities to finding homes for local brands on the platform, this launch is just the beginning
of our investment in the market and key to our wider international vision as we continue to scale Reddit at pace.”
Reddit has been pushing it’s expansion significantly over the past year. It opened offices in Canada in March this year, as well as the UK back in September, 2020.
And Australia makes sense when it comes to global expansion. According to Reddit, Australia is the platform’s fourth largest user base. It has also grown 4o per cent year on year.
This is a big value proposition for the company, and the new office with allow it to target local advertisers and brands at a local level.
According to the company, Australian users spend about 31 minutes a day on Reddit — more than Instagram, Snap, Twitter and Pinterest.
While Australian Redditors mimic global trends with their interest in gaming, finance, crypto and entertainment subreddits, there is something slightly different about our market.
Infamous subreddit, r/Australia, is the most popular subreddit in Australia, with over 700,000 members. Interestingly, it is closely followed by r/ausfinance and r/asx_bets. Considering the jump in popularity of crypto and r/wallstreetbets throughout 2021, this is not particularly surprising.
“With the rise and power of online communities, the launch of Reddit in Australia is exciting not only for us but for the industry at large,” Reddit’s Reprise CEO, Maria Grivas, said in a statement.
“Reddit is the home of online community and I’m looking forward to seeing more Australian brands embrace these highly influential online spaces
and the distinct marketing opportunities they bring, with Reddit’s official introduction to the market.”