3 ms·

Wikipedia indicates it's still a private company. My recollection is they are failing to hit figures that would make for an attractive buy out or IPO.

Dylan16807 3y ago
If profitability isn't enough for them, I have no sympathy. And beyond that, how fast do they expect to grow after this many years? Be happy with a good thing! Their growth rate was very impressive!
opportune 3y ago
They grew their employee count massively (400->2000) as their revenue grew over the past few years though. Part of that is, yeah, you have to spend money to make money. But I know for a fact not all of those employees were doing ad sales or direct monetization. You can speculate as to why they hired so many people: pandemic tech hiring FOMO, looking more attractive to investors, empire building, not being willing to settle for a paltry 10-figure valuation and so trying to build out to hit 11-figures. But they don't need that many people and they could easily become profitable by doing a big layoff (just as money software companies could). At this point it's not a question of survival or existence for them, nor of IPO readiness, so much as it is IPO optimization.
- DoreenMichele 3y ago
  Yeah, just fire most of the staff. It worked so well for Twitter. I don't know the details. I didn't follow it that closely. I don't care that much. I've read that the business decision that sparked the blackout had something to do with trying to make money. They're a business, not a charity. There's no such thing as a free lunch. People want endless amounts of free shit. The people who don't want reddit unless it's both free and takes their orders are people I don't personally sympathize with. I don't really expect to argue this further. I've already argued it way more than I really care to.

3 ms·

Wikipedia indicates it's still a private company. My recollection is they are failing to hit figures that would make for an attractive buy out or IPO.

by DoreenMichele 3y ago

Dylan16807 3y ago
If profitability isn't enough for them, I have no sympathy. And beyond that, how fast do they expect to grow after this many years? Be happy with a good thing! Their growth rate was very impressive!
opportune 3y ago
They grew their employee count massively (400->2000) as their revenue grew over the past few years though. Part of that is, yeah, you have to spend money to make money. But I know for a fact not all of those employees were doing ad sales or direct monetization. You can speculate as to why they hired so many people: pandemic tech hiring FOMO, looking more attractive to investors, empire building, not being willing to settle for a paltry 10-figure valuation and so trying to build out to hit 11-figures. But they don't need that many people and they could easily become profitable by doing a big layoff (just as money software companies could). At this point it's not a question of survival or existence for them, nor of IPO readiness, so much as it is IPO optimization.
- DoreenMichele 3y ago
  Yeah, just fire most of the staff. It worked so well for Twitter. I don't know the details. I didn't follow it that closely. I don't care that much. I've read that the business decision that sparked the blackout had something to do with trying to make money. They're a business, not a charity. There's no such thing as a free lunch. People want endless amounts of free shit. The people who don't want reddit unless it's both free and takes their orders are people I don't personally sympathize with. I don't really expect to argue this further. I've already argued it way more than I really care to.