Reddit moves into Spain with the purchase of MeaningCloud

Reddit attracts people at all levels Credit: Reddit Facebook

REDDIT moves into Spain with the purchase of MeaningCloud, a Natural Language Processing (NLP) company specialising in extracting meaning from unstructured content.

The technology strengthens Reddit’s ML proficiencies and understanding of unstructured data, ultimately providing the most relevant information for redditors.

Reddit is an American social news aggregation, content rating, and discussion website created at the start of the internet boom where registered users (commonly referred to as “Redditors”) submit content to the site such as links, text posts, images, and videos, which are then voted up or down by other members.

It was taken over by Conde Nast Publications in 2006 and since then has grown to become the ninth-most-visited website in the world and sixth most-visited website in the U.S., according to Semrush.

Charging for advertising on its site, Reddit was last valued at more than $10 billion and as such is one of the most visited sites for news and much more with an estimated 50 million views of more than 1 billion posts each day.

Having has so much success in English speaking markets such as North America and the UK, Reddit is now looking to expand into Europe which has its own huge potential market and access to this office in Spain will help it to grow communities within the EU.

Commenting on the acquisition, Jack Hanlon, Vice President of Data said: “MeaningCloud helps strengthen Reddit’s platform by helping our community get the relevant information they are looking for even faster.

With the addition of MeaningClound’s technology, we can continue our mission of providing simpler, richer, and more relevant content to our users and we are thrilled to welcome the talented MeaningCloud team to Reddit.”

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