Reddit Inc. is weighing feedback from early meetings with potential investors in its initial public offering that it should consider a valuation of at least $5 billion, according to people familiar with the matter, even as it is estimated below that figure in the volatile market for shares of private companies.
  • ZeroCool@slrpnk.net
    1412·
    5 months ago

    Thank fuck Lemmy exists. Reddit has been a shell of its former self for a very long time but in the last two years or so it’s gotten awful. Things will only get worse once Reddit goes public.

    Lemmy reminds me of what Reddit was when I joined in 2011. Much smaller user base that tends to be tech savvy. It’s an old school forum vibe I thought was gone forever.

      • BarqsHasBite@lemmy.world
        32·
        5 months ago

        I think they’ll start to realize when Reddit starts posting quarterly profits/losses and we hear about spez’s fat paychecks.

        • empireOfLove2@lemmy.dbzer0.com
          35·
          5 months ago

          They’ll post continuous losses like every social media tech company, and then the users will really begin to feel the screws tighten so far they won’t be able to breathe anymore.

    • DBT@lemmy.world
      27·
      5 months ago

      Spez doesn’t have a yacht. That’s what got his dick all tied up into a tiny knot in the first place.

    • MentalEdge@sopuli.xyz
      17·
      5 months ago

      Modern tech giants keep taking funding rounds to grow, because what’s profit now when you can spend and get bigger, so profit later can be even more huge?

      Except investors are finally waking up to the fact that growth doesn’t help much if the business isn’t profitable, now or ever.

      Reddit can pound its chest about how much it thinks it’s worth, but that’s all it is.

  • Lvxferre@mander.xyz
    273·
    5 months ago

    Archived link, for those who are paywalled.

    I’m hoping for some mod rebellion crashing this value even further. And by “rebellion” I don’t mean just posting Oliver pics; I mean at the very least ditching the subreddits that they moderate. Perhaps a few other things like:

    • organising mass emigration
    • scorching the earth behind (encouraging users to migrate/delete content)
    • filling the site with crap that would discourage other users from ever registering into the site (goatse tier)

    I don’t think that they’ll have the courage to do any of those things though. A Reddit mod - or at least, the ones still modding Reddit - is that sort of dog that someone kicks and then it’ll still lick their boot. Spez outright mocked them as “landed gentry” and they’re still working for free there, it can’t get lower than that.

    • viking@infosec.pub
      252·
      5 months ago

      Everyone who wanted out is already out. Current mods have fallen for the narrative or have been installed by reddit.

      • Lvxferre@mander.xyz
        8·
        5 months ago

        I think that more people will want to leave, as the IPO progresses. Including mods.

        My main concern is that won’t be fast enough to punish Reddit Inc.

  • Lucidlethargy@sh.itjust.works
    8·
    5 months ago

    Google is over-valuing reddit right now, and I sincerely doubt it will continue because their entire search platform is worse than ever.

    So this stock likely will not do well in the long run. It may be as simple as virtually all the search traffic being cut the minute they release generative search as a default option.