Reddit burned through their funds raised in two years and aren’t profitable. Protest or not that’s going to drop a valuation. Going public has been mandated, but it’s probably not going to bring the payout investors were hoping for, the market isn’t excited about tech companies that are advertising focused and can’t make a profit.
…and instead of rallying around a sense of shared community (as false as that ultimately may have been) to make an IPO “interesting” to future investors, the reddit royalty decided to sh!t on the userbase like the vessels they are always believed us to be.
Third party apps were always probably going to be killed as they couldn’t monetize those users and it’s likely a large chunk of their heavy users. Reddit’s ad revenue is garbage compared to it’s reported users. They definitely could have tried to be a bit more diplomatic about it though.
Reddit burned through their funds raised in two years and aren’t profitable. Protest or not that’s going to drop a valuation. Going public has been mandated, but it’s probably not going to bring the payout investors were hoping for, the market isn’t excited about tech companies that are advertising focused and can’t make a profit.
…and instead of rallying around a sense of shared community (as false as that ultimately may have been) to make an IPO “interesting” to future investors, the reddit royalty decided to sh!t on the userbase like the vessels they are always believed us to be.
Third party apps were always probably going to be killed as they couldn’t monetize those users and it’s likely a large chunk of their heavy users. Reddit’s ad revenue is garbage compared to it’s reported users. They definitely could have tried to be a bit more diplomatic about it though.