Reddit exhibited its first Super Bowl spot celebrating the famous subreddit / WallStreetBets, although you may have missed it while trying to grab a snack. He blinked on the screen for just five seconds, showing Reddit’s famous orange and white logo, along with a message. “If you’re reading this, it means that our bets were worth it. One thing we learned from our communities last week is that underdogs can do just about anything when we gather around a common area. “
What just happened? pic.twitter.com/DypRp6DeQt
– Reddit (@reddit) February 8, 2021
This refers to how the WallStreetBets subreddit frustrated Wall Street short sellers by buying GameStop stock. This led to huge losses in hedge funds in short positions, while the Redditors who entered (and left) early made huge gains. The extra infamy also brought a huge gain in traffic for Reddit, which saw a tenfold increase in the number of new users in the period January 24-30.
“Who knows, maybe you are the reason why finance textbooks have to add a chapter on ‘trends’,” said the ad. “Powerful things happen when people come together around something that really matters. And there is a place for that. It’s called Reddit. “
GameStop’s rise was restricted by broker Robinhood, who interrupted and slowed down the stock trading. Robinhood ran his own 30-second Super Bowl ad, celebrating ordinary investors.
Reddit said it spent “its entire marketing budget in five seconds of airtime”, which could be more than $ 1 million, considering that a 30-second ad costs $ 5.5 million this year (the Reddit is valued at almost $ 3 billion, according to TechCrunch) “I am very proud of what we were able to achieve in just five seconds and I think it captures the heart of Reddit in our unique and brilliantly absurd tone,” said Reddit marketing director Roxy Young. CNN.