The social network known as “the front page of the internet” is moving to Australia.
Reddit will officially open a Sydney office on Monday — the multibillion-dollar company’s first presence in the Southern Hemisphere and just its third outside the United States — in a bid to grow its Australian audience and challenge Facebook and Twitter.
The local arm of the world’s most famous bulletin board will be spearheaded by former Woolworths, Twitter and Amazon executive David Ray.
Reddit chief operating officer Jen Wong said the company chose Australia as its latest target after the local audience grew by more than 40 per cent over the past year.
“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 focused and nuanced way,” Ms Wong said.
“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 currently boasts more than 52 million daily active users on its platform, including an r/Australia community of more than 700,000 members.
Reddit users share videos, photos, text and web links that can be up or downvoted by fellow users on more than 100,000 channels known as subreddits.
The website’s popularity and content regularly attracts controversy, however; becoming a target for criticism earlier this year when a GameStop short squeeze was organised in one subreddit.
Reddit is the latest in a long line of US tech giants to establish a presence in Australia, with both Google and Facebook opening Australian offices in 2009, and Twitter establishing its Sydney headquarters in 2016.