Reddit CEO Admits "we are not profitable" right before upcoming IPO

3 years ago by Technoguyfication to c/reddit

>How do you address the concerns of users who feel that Reddit has become increasingly profit-driven and less focused on community...

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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CletusVanDamme 21 points 3 years ago

All spez wants it to keep things going until the IPO where he gets paid big. He's doing these changes to appeal to IPO purchasers and "maximize" the value.

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Korgen 14 points 3 years ago

He just publicly admitted Reddit is not profitable and he’s mad that third party apps are. That IPO is not going to go well lol.

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dogmuffins 8 points 3 years ago

They would have to show their books as part of an IPO anyway, and everyone already knows its not profitable. It's not like he accidentally dropped a big secret here.

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Cube6392 7 points 3 years ago

I keep reading this and I'm not 100% he is maximizing IPO value. I think he's ultimately doing more harm than good.

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XLRV 4 points 3 years ago

Yeah, honestly I can't see how good this can look from an investor perspective.

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Showervagina 2 points 3 years ago

How much does he own?

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