[DEADBEEF]

Average CPM is around $2.5 - $5. Reddit gets 280M pageviews pcm.

Therefore, if it's only breaking even and not turning a profit then their server, bandwidth & wage bill must be in the region of between $700,000 (2.8M/1000x2.5) and $1,400,000 (2.8M/1000x5) per month.

Either their servers are massively inefficient, they're paying their staff too much, they're selling themselves short to their advertisers, or their offices are wallpapered with banknotes.

Either which way, they're doing something massively wrong somewhere.