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

Reddit

13624 readers
1 users here now

founded 5 years ago
MODERATORS
norz@lemmy.ml
23
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
47 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
[–] EtherBalls@lemmy.world 9 points 1 year ago (2 children)

It’s insane to me that a site with as much activity and engagement as Reddit is allegedly “not profitable”. He’s either flat-out lying or they have mismanaged the site to a legendary degree.

Either way, it’s pretty pathetic.

[–] MayorMcCheese@lemmy.ml 4 points 1 year ago

This seems typical for dot com/social/next best thing. They grow at all cost in angel funding. Then cash out.

load more comments (1 replies)