NEW YORK, Feb 7 (Reuters Breakingviews) - Social media platform Reddit, which helps its users “dive into anything,” may finally plunge into the public markets. The 19-year-old company made over $800 million in sales last year, at least 20% more than in 2022, according to Bloomberg. But a dearth of profit this late into its existence portends the lack of a real business model, suggesting it’s still not ready for public company life.

https://www.reuters.com/breakingviews/investors-will-say-ok-boomer-aging-reddit-2024-02-07/

Original link: https://www.reuters.com/breakingviews/investors-will-say-ok-boomer-aging-reddit-2024-02-07/

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[–] 98 points 2 years ago* (4 children)

A cool thing I learned from their public filing is that Spez makes 192M in total compensation, and the company has been running around 150M deficit.

That's the makings of a very profitable investment, you know 🙄

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  • [+] 40 points 2 years ago* (last edited 2 months ago) (2 children)
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  • [–] [S] 2 points 2 years ago

    As Wolf of Wall Street explains, at some level it isn't even "money" anymore, it's rather numbers like in a game - the goal being to "win", e.g. Huffman competing against Musk.

    No matter how many salaries of irl people are being affected by their childish tantrums:-(.

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