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In unsurprising news, Reddit prepares IPO (www.businessinsider.com)

submitted 11 months ago by [email protected] to c/[email protected]

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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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[–] [email protected] 31 points 11 months ago (1 children)

None. No innovation. Every update to the site has made it worse and less reliable. I could single-handedly code a better Reddit in a few months than that entire team has done in ten years. But they're not focusing their efforts on UI/UX improvements. They focus all their efforts on tracking, data harvesting, and circumventing the user safety protocols built into web browsers. We view the project as a cool public forum. They view it as a means to riches, and they don't give a shit if it's a pleasant experience for the users.

[–] [email protected] 2 points 11 months ago

This is true for almost every social media. They get popular for one thing and one things only and it’s mostly just content formatting. The rest is ads that make very little and they can’t diversify.