this post was submitted on 09 Jun 2023
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Reddit CEO Admits "we are not profitable" right before upcoming IPO (old.reddit.com)
submitted 1 year ago by Technoguyfication@kbin.social to c/reddit@lemmy.ml
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How do you address the concerns of users who feel that Reddit has become increasingly profit-driven and less focused on community engagement?

We’ll continue to be profit-driven until profits arrive. Unlike some of the 3P apps, we are not profitable.

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[–] Korgen@lemmy.korgen.xyz 5 points 1 year ago (1 children)

He just publicly admitted Reddit is not profitable and he’s mad that third party apps are. That IPO is not going to go well lol.

[–] dogmuffins@lemmy.ml 9 points 1 year ago

They would have to show their books as part of an IPO anyway, and everyone already knows its not profitable. It's not like he accidentally dropped a big secret here.