this post was submitted on 07 Jan 2024
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SNOOcalypse - document, discuss, and promote the downfall of Reddit.

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In unsurprising news, Reddit prepares IPO (www.businessinsider.com)
submitted 10 months ago by cygnus@lemmy.ca to c/snoocalypse@lemmy.ml
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Now the social media platform is aiming for an IPO in the first quarter of 2024 with a valuation of $15 billion, and has been in talks with potential investors like Goldman Sachs and and Morgan Stanley, per Bloomberg.

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[โ€“] Anticorp@lemmy.world 51 points 10 months ago (1 children)

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

[โ€“] LemmyKnowsBest@lemmy.world 15 points 10 months ago (2 children)

You think they're even worth half a billion?

[โ€“] TangledHyphae@lemmy.world 9 points 10 months ago (1 children)

Good point, it'll be good to see their public revenue sheets when they reach that point, 500 mil seems like a lot for the site but it is global so maybe there's more cash flow outside the US.

[โ€“] bgh251f2@lemmy.eco.br 1 points 10 months ago

In Brazil they are very small, but they have some impact. Most because of the mods though.

[โ€“] crispy_kilt@feddit.de 1 points 10 months ago

Not the company, the data. For training ML