this post was submitted on 07 Jan 2024
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SNOOcalypse - document, discuss, and promote the downfall of Reddit.

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In unsurprising news, Reddit prepares IPO (www.businessinsider.com)
submitted 8 months ago by [email protected] to c/[email protected]
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Now the social media platform is aiming for an IPO in the first quarter of 2024 with a valuation of $15 billion, and has been in talks with potential investors like Goldman Sachs and and Morgan Stanley, per Bloomberg.

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[–] [email protected] 0 points 8 months ago

As of 7 months ago, spez claimed that the company still wasn’t profitable. If, after 18 years, a social media link aggregator still isn’t profitable, then what are they going to do with the IPO capital other than burn through it as well?