In unsurprising news, Reddit prepares IPO

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?

Let the enshittification begin continue. Now that stockholders will be expecting increasing profits, I don't see how Reddit can remain free to use.

The only way reddit is worth $15 billion is if they have plans to sell user data to AI companies.

These valuations on companies that use cloud hosting for delivering video like reddit does is fucking imaginary. Reddit does not have enough of it's own infrastructure to justify a $15 billion valuation. It's ephemeral in the end.

Sincerely hope it crashes and burns, even though I find it unlikely.
Fuck spez for ruining my favorite social media ever.

OK so wait until the inevitable hours after opening peak and buy puts?

"I submitted most of the content for the first couple of months myself — I had all these different accounts… and sometime in August was the first day that I didn't submit any content. Real users did. And literally every day since then, Reddit has been bigger than I ever thought it would be." -Steve Huffman

So there you have it, all of you single instance users, don't fret! Reddit didn't become popular in a day, it was mostly Spez posting to himself.

As far as the IPO goes, I've left Reddit so it can succeed or crash and burn, I care little at this point.

Elon Musk should buy it :) i hear he's doing wonders with the xitter :)

15 billion? Lol, wow. That's about 14.5 billion more than I'd say they're worth.

Can you short an IPO?

Ok there. I finally deleted my account for realsies.

I keep going back to check out their Marvel discussions, but tell myself not to log in and engage. The community around that is bigger, definitely, but man… so full of dickheads. Thanks for being nicer, Lemmy users.

$15 billion, jesus fuck. Lots of idiots gonna be sellin ass behind Wendy’s.

Please, Reddit, finish dying, I'm banned for a bullshit reason and wanna talk abotu Jojo Memes with people again

Hope it fails and Steve Huffman gets fired

Is it possible to short an IPO? I would like to say that this is going to lose value almost immediately.

15 billion lol

Well, I guess we may get a surge of anticapitalist users soon.

more like IPOO

And the super majority of investors will not understand one bit what Reddit is and why it use to be so popular. The pyramid scheme continues.

fuck spez

Genuine question: how can a website that's never turned a profit be worth $15 billion dollars?

Honestly the most surprising part of this news is that it took so long

And I sincerely hope anyone that invests in Reddit loses everything they put into it. The company deserves to die for the bullshit they did last year. It’s past time to move on.

Well I checked back. I also went to wipe the last bits of posts from a couple accounts. Soon as the scripts got done running...

Uh oh! We have suspended your account due to suspicious activity.

Have we tried pulling a Twitter on this shit and seeing how many ads come up next to controversial Concepts yet?

I don't think it would take many of them to take this motherfucker

What a little shitbaby, that IPO is going to be worse than Robinhood’s

Well for me im gonna short the shit outta that ipo :)

They filed for IPO in December 2021. Its taken them THIS long. The competent management didn't leave the building, they were never there.

Tumblrfication in 24 months time. Trying to pump it for profit will see the bottom fall out; we've watched it happen dozens of times before

What is IPO?

People here tend to think we’ve made a dimple in reddits statistics and our voices were heard. Nope, both reddit and it’s users couldn’t give a fuck that we’re gone. Most of reddit is not your niche communities you miss, its dumb memes, content copied from facebook and politics. Vast majority of users just installed the app and are happily scrolling away building someones personal wealth, remaining oblivious how much reddit knows about them and how much greasy, fat fingers of shit hoarders like goldman sachs would like to exploit that info.

Third time's the charm?

Lemmy > Reddit in literally every way. Only a matter of time until Reddit becomes Myspace 2.0

Fuck spez!