Hi! Shellebrate good times… Jonathan, a Seychelles giant tortoise who lives in St Helena, has broken his own record as the oldest land animal at roughly 194 years old, per Guinness World Records. Today we’re exploring:
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- R/revs: Reddit’s already-booming ads business is getting even bigger.
- Staycationing: 45% of Americans say they aren’t going away this summer.
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Reddit’s advertising business is getting bigger. It’s already booming.
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How do you expand an advertising business that’s already grown almost 75% in the last year and doesn’t really look to be slowing down anytime soon? Well, just r/AskReddit.
First launched 21 years ago almost to the day, Reddit today announced a new suite of products built around its “community intelligence,” as the social media platform looks to sure up its ads offering in the age of AI, explaining its unique position as a “trove of human intelligence” in an Axios exclusive.
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As part of that same interview with Axios, Reddit COO Jen Wong explained that, although people are undoubtedly turning to AI more, “they still are seeking out information from humans as a companion to that” — a fact that the company is looking to turn into more opportunities for advertisers moving forward.
In the new box of tools for advertisers, launched today at the Cannes Lions International Festival of Creativity, is the platform’s first multi-advertiser format “Shopping List Ads,” where different companies can showcase their products around related conversations happening on the site. Reddit is also introducing a new ad generator tailored to specific audiences and forums, as well as letting brands incorporate positive reviews from Redditors into the ads themselves.
All of this, it’s important to note, comes at a time when Reddit ad revenues have already ballooned to bring the company over $2 billion in revenue across its last fiscal year.
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Although it’s been on a bumpy ride since its IPO a little over two years ago, as investors work out its place in a world of AI aggregation and content licenses, the company’s advertising sales have been on a tear in that time.
Indeed, as businesses rush to get into popular subreddits like AskReddit and mildlyinfuriating, which clock 18 million and 12 million visitors a week, respectively, the company’s advertising revenues have soared almost 300% in the last three years, from $160 million in Q1 2023 to $624.7 million in the last quarter.
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As US large cap equity markets have evolved over the past 15 years, the Nasdaq-100 Index® (NDX®) now stands as the premier benchmark for the 21st-century economy.
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Today, the Nasdaq-100 global ecosystem represents over $1.4 trillion in exposure to the world’s largest, most liquid, and most innovative companies.
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45% of Americans say they’re not taking a summer vacation this year, mostly due to high costs
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We’re starting to get to that stage of the year where the wintry dreams of sitting on a beach somewhere, basking in the sun with a drink in hand, traditionally start being realised — for almost half of America this year, however, those far-flung fantasies will likely remain just that.
According to the latest poll from NPR, PBS, and Marist, some 45% of Americans said they don’t plan to take a summer vacation this year. Although that’s actually a fairly typical share overall (the figure sat at 43% when asked in 2025, and 45% when it was asked four years earlier), more Americans highlighted money as a key factor this year, with 49% saying cost was the main driver behind their decision.
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Given the knock-on financial effects of the US-Iran war within the travel industry, and the different ways that businesses like major airlines have passed on soaring expenses to consumers, it’s hardly surprising that cost is top of mind for those not jetting off this summer.
Still, for those harboring hopes of booking themselves a last-minute getaway, flight comparison website Skyscanner put together a list of the cheapest holiday destinations by average flight price as part of the platform’s American-focused Smarter Summer Report. Unsurprisingly, cities in the US came out on top in the value ranking.
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Punta Gorda topped Skyscanner’s list, a city described as “Florida’s best-kept secret” where a flight from various US airports would set you back just $179 on average in June. Two other cities in the Sunshine State made the cut, while tourist hotspots like Chicago and Las Vegas also boast some of Skyscanner’s cheapest flight tickets on average.
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- To infinity… The latest “Toy Story” movie just took a huge $300 million haul at the global box office, marking the biggest opening weekend in the franchise’s 5-film, 31-year history.
- UK Prime Minister Keir Starmer resigned on Monday morning in London after around 2 years in the role; his successor will become Britain’s 7th PM in just 10 years.
- Google will invest ~$75 million in A24, the indie studio behind hits like “Everything Everywhere All At Once”, “Marty Supreme,” and “Backrooms,” as part of a joint research partnership on AI.
- Dad’s the word: The National Retail Federation estimated that Father’s Day spending would reach a record $27.9 billion this year.
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Access the cornerstone of the 21st-century economy: The Nasdaq-100 Index® (NDX®) has evolved into a $1.4 trillion global ecosystem featuring the world’s largest, most liquid, and most innovative companies.
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- A pleasing and endless I-Spy collage from Neal.fun, made using images found on Wikipedia.
- Can I kick it? Reuters’ visual history of the different soccer balls used at the World Cup through the years.
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Off the charts: Last week, Meta announced that Threads had reached 500 million monthly users, but which platform became the fastest to hit the 1 billion mark earlier this month? [Answer below].
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