this post was submitted on 07 Jan 2024
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SNOOcalypse - document, discuss, and promote the downfall of Reddit.

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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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[โ€“] [email protected] 17 points 10 months ago (1 children)

Genuine question: how can a website that's never turned a profit be worth $15 billion dollars?

[โ€“] [email protected] 11 points 10 months ago (2 children)

Because now it's sanitized for capitalism's protection.

[โ€“] [email protected] 2 points 10 months ago

Does that mean now it will start generating profit?

[โ€“] [email protected] 1 points 10 months ago (1 children)

Most people still aren't paying for it though.

[โ€“] [email protected] 3 points 10 months ago

Advertisers do.