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Reddit has never turned a profit in nearly 20 years, but filed to go public anyway (www.cnn.com)

submitted 9 months ago by [email protected] to c/[email protected]

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Reddit has never turned a profit in nearly 20 years, but filed to go public anyway::Reddit, the message board site known for its chronically online userbase and for originating much internet discourse, filed for its long-anticipated initial public offering on Thursday.

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[–] [email protected] 2 points 9 months ago

Unlikely. It's in all likelihood just a bad business, like so many other VC-subsidised businesses that have come before them. Case in point: Uber, Airbnb, WeWork.

The whole game is to offer services at a loss for enough time to lock in customers, then raise the prices in the future.