Reddit Migration

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founded 1 year ago

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Fidelity has cut Reddit valuation to $5.5B from $10B (techcrunch.com)

submitted 1 year ago* (last edited 1 year ago) by Girlparts@kbin.social to c/RedditMigration@kbin.social

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[–] Sordid@kbin.social 1 points 1 year ago (1 children)

If the company can be made profitable, why isn't it? Why wouldn't the current owner rake in some profits before selling? Surely a company that is already profitable would be even more attractive for buyers.

[–] JamesFire@lemmy.world 0 points 1 year ago (1 children)

Because it takes time to get that potential.

The sellers want money now, while the buyers are okay with waiting.

[–] Sordid@kbin.social 1 points 1 year ago

Reddit has been around for 18 years, though. Surely that's more than enough time to start turning a profit if the company is capable of it?