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Reddit has never turned a profit in nearly 20 years, but filed to go public anyway (www.cnn.com)

submitted 8 months ago by L4s@lemmy.world to c/technology@lemmy.world

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Reddit has never turned a profit in nearly 20 years, but filed to go public anyway::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.

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[–] kylian0087@lemmy.world 7 points 8 months ago (3 children)

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

[–] wurosh@lemmy.ml 17 points 8 months ago* (last edited 8 months ago) (1 children)

You keep telling the next investor it'll be profitable soon. I believe the guy that came up with this scheme first went to prison or something, but afterwards we all collectively decided we were cool with it.

[–] whoscheckingin@lemmy.ml 8 points 8 months ago

That's why they need to go public in the first place. Investors are like it's right now or you're shutting down, no more free money for you.

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