Case Study: Reddit accelerates close and improves audit readiness with Leapfin

Reddit cuts month-end close from day six to day three with Leapfin

Reddit, a social media platform, faced significant challenges in managing its complex and high-volume revenue accounting processes. With hundreds of millions of annual transactions from diverse streams like advertising and data licensing, their finance team was burdened by manual data aggregation using Excel, which was inefficient, error-prone, and limited their ability to provide timely insights. These constraints created bottlenecks that hindered their month-end close and posed a compliance risk as they prepared for their IPO. They needed a scalable solution to automate these processes and partnered with Leapfin for its revenue data platform.

Leapfin provided a solution that automated the aggregation and standardization of revenue data from all payment processors into a single source of truth. This implementation delivered immediate results, reducing manual work by over eight hours per month and accelerating Reddit's month-end close process from six days to just three. The Leapfin platform improved data accuracy and audit readiness while also providing the transaction-level visibility needed for strategic decision-making. Most importantly, it gave Reddit's finance team the capacity to support rapid product growth and focus on high-value projects.

Reddit