Reddit Earns Significant Revenue During Celeb Photo Scandal

Social news and entertainment site Reddit was one of the most shared channels linking to controversial celebrity photographs reportedly hacked from iCloud accounts. In the six days prior to Reddit’s removal of the photos, the site earned enough revenue to run its servers for a month. This is based solely on Reddit Gold, and does not include ad revenue from the quarter billion page views. As Reddit seeks a new round of investments, the site’s belated removal of the page is not considered a coincidence.

Reddit_LogoIt took six days for Reddit to remove nude photos of celebrities such as Kate Upton and Jennifer Lawrence, hacked from Apple’s iCloud. Meanwhile, Reddit is seeking a new round of $500 million investments.

Reddit Gold is the company’s $3.99-per-month premium account that users can gift to each other. The revenue that Reddit made from these purchases alone will power its servers for 27 days.

Reddit did not comment on the traffic the site received during this time. “But one administrator admitted in a long note about the staff’s ambivalence on the issue that it had ‘hit new traffic milestones, ones which I’d be ashamed to share publicly,'” reports Wired.

“We understand the harm that misusing our site does to the victims of this theft, and we deeply sympathize,” wrote Reddit CEO Yishan Wong. “Having said that, we are unlikely to make changes to our existing site content policies in response to this specific event.”