Reddit's revenue from direct advertising reached its first $100 million in the June quarter, a 192% increase compared to the same three months last year.
The platform has also just raised US$410 million in funding, valuing Reddit at US$10 billion.
The milestone comes as the company opened an Australian office in July, headed by former Woolies and Amazon executive David Ray.
Reddit says: "We are making strategic investments to grow Reddit and our business, including expanding internationally, innovating new ways to foster community, and bolstering our advertising offerings and capabilities.
"These efforts require us to grow our teams and make smart bets on how to make Reddit better, faster, easier to use, and more empowering for communities.
"We are also evolving as a business, maturing, and building the operational structures that will help propel us into the future with transparency, values, and integrity."
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