After going public last year, Reddit has experienced significant growth, but there are concerns about its close ties to Google. Redburn Atlantic analysts have cautioned that Reddit's dependence on Google traffic and visitors who are not logged in could restrict its long-term worth. The company's stock has been unstable, influenced by changes in Google's algorithm and speculation surrounding a potential Google partnership.

Despite Reddit's rapid expansion, it is struggling, like many other media enterprises, to distinguish itself from Google. In a recent report, Wall Street analysts from Redburn Atlantic gave Reddit a rating of "sell," questioning the company's true potential and value. They pointed out that much of Reddit's recent growth has been driven by visitors who are not logged in, most of whom are directed to the platform by Google's algorithm.

Although Reddit's logged-in daily active users increased by 27% last year, the growth rate for logged-out users was significantly higher at 70%. According to Cordwell and Barker from Redburn, the influx of traffic resulting from Reddit's recent adjustments may be reaching its peak, with a risk that any benefits granted by Google could be retracted.

In response to these concerns, Reddit's COO, Jen Wong, has described the relationship with Google as "symbiotic," emphasizing that people use Google to reach Reddit. Despite these challenges, Reddit remains optimistic, affirming that improvements in the platform have enhanced the experience for logged-in users.