I'm a long time Reddit advertiser. I've also written the top ranked post on Google for "Reddit Ads." Reddit liked the post so much that they feature on a case study on their site. I used to be able to drive $10 CPAs from Reddit ads. It was a simple process. You pick a subreddit that fits well w/ your product and run an ad in that subreddit. It would only appear in that subreddit. For example, I run a jerky club, so I would advertise in the r/jerky subreddit and people would see my ad in r/jerky and sign up for a subscription. My ad would only appear in the r/jerky subreddit. It was perfect contextual advertising. Redditors see relevant ads, Reddit gets ad revenue, and the advertiser gets ROI. Now, Reddit has changed their system secretly so they can boost their ad revenue and reduce advertiser ROI. CPAs now cost me $100+ on their platform. Here's what they've done. Now when I tell Reddit that I want to run an ad in r/jerky, instead of ONLY running the ad in the r/jerky subreddit, they run the ad to any user who's ever visited r/jerky or subscribed to it. Of note, they don't tell the advertiser about this change anywhere on their new platform. So now my jerky club ad can appear on the front page for ANY Reddit user who's ever visited r/ jerky or subscribed to the subreddit. The ad can appear any place on Reddit totally out of context. This drastically reduces the ROI for the advertiser and it gives Reddit the ability to sell many more impressions. Total deception on the part of Reddit. Disappointed. Maybe someone from Reddit can chime in on this because it's very frustrating.