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Clbull@lemmy.world to Technology@lemmy.worldEnglish · 1 year ago

Reddit’s IPO Filing Shows Lots Of Losses After Nearly 20 Years

www.forbes.com

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Reddit’s IPO Filing Shows Lots Of Losses After Nearly 20 Years

www.forbes.com

Clbull@lemmy.world to Technology@lemmy.worldEnglish · 1 year ago
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When will the company make money? After two decades, it still can’t say. And there are enough other red flags that investors might want to be wary.
  • Semi-Hemi-Demigod@kbin.social
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    1 year ago

    Research and development, at $438.3 million

    What in the fuck has Reddit developed in the last year that cost half a billion fucking dollars?

    • muntedcrocodile@lemmy.world
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      1 year ago

      The executive payroll

    • herrcaptain@lemmy.ca
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      1 year ago

      Hey, it’s not easy to make a shitty new redesign of a site. That stuff costs money.

      • jol@discuss.tchncs.de
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        1 year ago

        Twice

    • jballs@sh.itjust.works
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      1 year ago

      Remember when they killed API access claiming it cost the 10s of millions each year? Turns out they could have just not spent so much on reddit avatars and we’d all still be there today.

      • KᑌᔕᕼIᗩ@lemmy.ml
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        1 year ago

        They could have just paid the CEO a little less to cover it too. It was just greed so they could sell the data at a pittance, even though the cat is already out of the bag.

    • nucleative@lemmy.world
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      1 year ago

      I haven’t seen that “you broke reddit” message in a while. Maybe they bought more servers?

      • Patches@sh.itjust.works
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        1 year ago

        Because I haven’t been back since the API Debacle…

        FTFY

      • Moobythegoldensock@lemm.ee
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        1 year ago

        The two options to fix that are either buy more servers or make enough idiotic decisions to drive your user base away that traffic is no longer an issue anymore.

        I wonder which one reddit opted for?

    • LiveLM@lemmy.zip
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      An ugly new logo, continued development on world’s shittiest mobile app, and a terrible brand new UI for the website (not to be confused with the previous terrible new UI)

      Oh yeah, they also did some NFT bullshit, almost forgot about that one.

      • pewgar_seemsimandroid@lemmy.blahaj.zone
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        1 year ago

        3d probably shouldn’t be in logo’s except mabye for the apple photos app because coloured glass

        • Aatube@kbin.social
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          1 year ago

          Skeumorphism has entered the chat

    • theodewere@kbin.social
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      1 year ago

      they’re selling the ability to harvest data, not provide a platform for anything particularly useful… they are developing data harvesting tools, including for AI…

    • eran_morad@lemmy.world
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      26 days ago

      deleted by creator

    • CosmoNova@lemmy.world
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      1 year ago

      Let‘s see, almost 200 million to their CEO, almost 100 million to their COO. They also got a new logo!

      Jokes aside I‘m as floored as you.

    • Kbin_space_program@kbin.social
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      1 year ago

      Monetization and adware.

    • btaf45@lemmy.world
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      1 year ago

      They are paying lots of programmers. 99% of which are unneccessary, to enshitify the site with new features that subtract value for users.

    • Shdwdrgn@mander.xyz
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      1 year ago

      Maybe they’re bankrolling theDonald’s NYC fines.

    • Tronn4@lemmy.world
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      1 year ago

      They were giving reddit gold to everyone

    • friend_of_satan@lemmy.world
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      1 year ago

      deleted by creator

    • NullPointer@programming.dev
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      1 year ago

      you think ‘place’ was free?

    • Refurbished Refurbisher@lemmy.sdf.org
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      1 year ago

      They gotta sell access to AI companies somehow.

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