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Reddit Falls Short of Ad Growth Targets Ahead of Likely 2024 IPO
(www.theinformation.com)
This is a most excellent place for technology news and articles.
The company I work for spends ads on social media companies for ransomware protection and regularly spend is regularly negative. That means we spend more money on advertising than we do in income. We only do it to maintain some market share but otherwise it's just a pure loss on that platform.
Lots of companies spend more on ads than they make. It's a growth strategy.
Ya, the ROIs are terrible and when we stop our spend on reddit, our sales don't decrease when we cut spend. At least for enterprise level SaaS products, it's basically a donation to their company with no gains.