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> Uh, reddit already won what exactly? The right to do whatever they want and still keep the communities and content with pretty much no impact on their bottom
by pmdr 3y ago
> Uh, reddit already won what exactly?
The right to do whatever they want and still keep the communities and content with pretty much no impact on their bottom line thereafter.
> How does going public have anything to do with success for a company like this? It's a way to raise capital and compensate insiders, nothing special
You raise capital if investors believe in the direction the company is heading. They're betting on reddit to make them money.
> Everything there is becoming corporate
Reddit didn't start out that way, at least it wasn't the impression that seasoned internet users got. It used to be developer-friendly and open, whether you were using Tor, a VPN or a datacenter's IP.
It's, of course, their right to steer the company as they see fit and towards profitability. My only wish is that people providing valuable content and moderation work would start to see that the company's values have changed.
- theonemind 3y agoFor today. Even Facebook is in decline. Online platforms don't last forever.
- pmdr 3y agoI thought so myself until reading the latest earnings call.
- kbenson 3y agoUsually they do, either as some other company's acquisition or as a company that acquires others (like facebook/meta). Little actually is entirely gone, someone snatches it when the price gets low enough. Whether they grow themselves to the point they buy others or are bought is a distinction without a difference in this case. Their DNA exists in myriad ways, and even if they survived and weren't bought few few online companies are the same a decade later.