Reddit CEO Huffman: Google's AI Mode drives no traffic to anyone, stock drops 25%
The Decoder · rss · 2026-10-31
Reddit CEO Steve Huffman said the site lost over one million Google search referrals per week in October, blaming Google's AI Overviews and AI Mode for sending virtually zero clicks to external sites. Despite strong earnings, Reddit's stock fell more than 25%.
In response, Reddit is testing login barriers and aims to become a direct destination less reliant on open-web search traffic — a warning shot for every content business depending on search referrals.
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