Why buy it? The CEO has publicly stated they don’t make money while killing two major revenue streams.
They are about 2 years too late.
The rise in interest rates and the end of easy VC money has swung the dial back to: Companies actually need to generate profit and not just show user growth to be attractive to investors.
The IPO will not go as spez dreamed for so long.
I agree. The economy is shit right now and I would be amazed that anyone in their right mind would invest in a company whose already lost half their value in just a few years (at least, that’s what I’ve heard. They supposedly went from 10B to 5.5B or something like that). And like you said, interest rates are a factor as well.
The mods are jumping ship or just straight up abandoning the site, and the slew of NSFW content, real or not, is damaging its advertisement potential. It’s a lemon.
Well said
Short the stock! We hate the stock!
It’s happening
Expect a new wave of refugees to Lemmy every fiscal quarter as they make ridiculous changes to increase the value of a sinking ship for shareholders.
Now it’s just a question of whether old.reddit will be killed off before the IPO or shortly afterwards. Either way, I doubt it makes it to the summer.
I hope you’re right.
I hope it doesn’t ruin what we have here
It won’t
I welcome the Reddit refugees as a former Reddit user
Eventually the IPO will ruin Reddit, as vulture capital will make sure to extract every single bit of value from the platform as profit. I just wish that Reddit’s downfall happened before that - otherwise spez and other shareholders are still leaving with pockets full of money.
Also, it would be a shame if a blackout happened near the end of February… or if subreddits went again into “Oliverposting” mode… or if people happened to promote a few Kbin / Lemmy instances…
I hope it fails spectacularly.
Is it really happening this time?
