redit the internet's popular discussion Hub encountered widespread outages and errors for nearly an hour Wednesday user reports of problems with reded spiked just before 400 p.m. ET on August 28th when there were more than 76,000 error reports according to monitoring site down detector error messages displayed on rdit pages included we have encountered an error please try again later and we were unable to load the content for this page the ER reports on down detector indicated that the redit tape was also experiencing problems a message posted on Reddit status page at 4:16 p.m. ET indicated degraded performance for reddit.com with a note that said we are currently investigating this issue an update at 4:45 p.m. ET said that a fix has been implemented and we are monitoring the results and access to the site and app was soon restored the company has experienced technical problem s in the past including a major outage in August of last year and a 5H hour outage in March 2023 according to Reddit there're more than 100,000 active communities from around the world across the site spanning numerous topics and interest areas Reddit launched tonight po this past March raising $519 million the company once built as the front page of the internet report a 2023 revenue of 800 $4.0 million up 21% year-over-year and a net loss of 90.8 million compared with a $18.6 million lost the year prior for the second quarter Reddit said daily active unique's users increased 51% year-over-year to 91.2 million it narrowed its net loss to 10.1 million versus an net loss of $ 41.1 million in the prior year quarter while Revenue Rose 54% year-over-year to $281 two million Reddit was acquired by K day till to copyright Nast in 2006 for $10 million soon after it launched in 2005 and 2011 con a till a copyright Nast spun out the site while parent Advan Publications retained a minority stake other investors in RIT include open ey CEO Sam wman Chon's 10cent Holdings Fidelity seoa capital and Anderson horv