this post was submitted on 09 Jun 2023
90 points (100.0% liked)

Reddit

13638 readers
2 users here now

founded 5 years ago
MODERATORS
norz@lemmy.ml
90
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
54 comments fedilink hide all child comments
 

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.

you are viewing a single comment's thread
view the rest of the comments
[–] Kaiser@lemmy.world 5 points 1 year ago (1 children)

Agreed, I don't know why Reddit is pushing to go public. Personally I don't see the value in a business that admits that they aren't profitable, but that raises the question if they aren't making money how as Reddit operated for so long? The upside to them going public is that they'll have to start publishing financial statements and we'll get to just how much money the "unprofitable" business is making.

[–] fire@lemmy.world 2 points 1 year ago

I think it's probably being pushed by the people who invested in Reddit to make it go public so they can sell shares / cash out. But this is just my opinion