Problem is the entire concept of a site like reddit being "for profit" in the first place.

I know we all wax nostalgic about the old non-centralized Internet with its various small websites and forums, but one thing I do genuinely miss from those days was that those places existed because the people running them wanted them to exist. They had ads or took donations to keep the lights on, but no one was looking to get rich. Passion, not profit.

The decentralized internet was run more by people, the centralized internet is run by board rooms.

That's why I like the idea of the fediverse. That is why this place feels familiar to those early days.

honestly, it has the word AI somewhere in their last year activities, even if they don't do it themselves.

Investors are dumb as fuck, they know nothing about anything other than keywords and hype trains, so with the AI keyword they might go crazy on this.

I keep saying it, the stock market is a mistake for humanity, it doesn't make sense to put a gambling house in the core of the world economy.

Perhaps if the ceo wasn't making like 200m a year, it would show some profits

but they've cleaned the site up so much! I mean they got rid of all of us, didn't they

Because the stock market is a scam and whoever is valuing these companies so high is clearly in on it. Any company that has no profit is should be worth nothing in an IPO.

Edit: strikethrough, to be more clearly an opinion.

Given Spez's salary I'd say they definitely make a buck.

I think people don’t understand just how good Facebook is at ads. Their relevance engine is unlike anything else. If something 1/3 as effective could be done to Reddit, this place would be making billions.

I’ve run ads on Facebook and I’ve run ads on Reddit. Facebook was like a massage with a happy ending, and Resdit was like being shat on by a vagrant.

There’s absolutely no reason Reddit couldn’t be making tons of money with as much as they know about hobbies and interests in general, and the free traffic they are able to draw to such a mountain of niche content.

I hope not to see Reddit go the way of Facebook. But to say it couldn’t make a profit is not true.

Fucking arseholes. It has been my imaginary home since it started and now I have to use fucking mastodon and bluesky fucking dicks.
On the plus side, Lemmy has been getting really good recently

I hope their IPO comes crashing down in flames.

Didn't think I'd be here hoping for the failure of what used to be my favorite website but here we are.

Most tech companies aren't profitable when they go public, that's been true as long as the tech industry existed.

I smell a short position in my future after that IPO...

deleted by creator

Who else is going to short?

Hoe does this work. If a company has not made a profit in 20 years. How is it not bankrupt?

This is the best summary I could come up with:

Reddit, the message board site known for its chronically online userbase and for originating much internet discourse, filed for its long-anticipated initial public offering on Thursday.

The filing comes nearly three years after Reddit hired its first chief financial officer, and executives, including co-founder and CEO Steve Huffman, began publicly discussing the possibility of an IPO to further elevate the company’s profile.

Reddit, which has called itself the “front page of the internet,” is a social media veteran: the company started in 2005, the year that college roommates Huffman and Ohanian graduated from the University of Virginia.

In 2021, Reddit caused mass market upheaval when a community of day traders on the platform called WallStreetBets began buying up shares of GameStop in an effort to hurt hedge funds that bet against the stock.

Thursday’s filing offers the most detailed look yet at the state of Reddit’s business, which seeks to grow beyond the traditional ad-supported model upon which most social platforms continue to heavily rely.

And while Reddit said it expects its total addressable market in advertising to grow to $1.4 trillion by 2027, it also acknowledged in the filing’s risk factors disclosure that it has “a history of net losses and we may not be able to achieve or maintain profitability in the future.”

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