this post was submitted on 09 Jun 2023
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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
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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.

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[–] animist@lemmy.one 2 points 1 year ago

These are the steps the current admins are following:

  • get VC investors for public IPO
  • go public
  • watch stock price go up initially
  • cash out and move to a country with no extradition treaty with the US
  • laugh ass off and wipe ass with $100 bills