4 ms·

The founders sold Reddit for how much was it $10M or $20M?

• throwaway984393 2y ago
  [dead]
• Macha 2y ago
  To be fair, that was followed by like 5-6 years being a thing that Conde Nast had probably forgotten they owned and going between making a loss and barely breaking even with a skeleton crew. Now it's got a very large team, all the investor pandering and user hostile activity, and instead it's making a large loss, which of course for investors means it's more valuable.
  • conradfr 2y ago
    I still don't understand how one of the most popular website with free content and moderation and extremely cacheable content was never profitable. Unrelated but they removed the <subreddit>.reddit.com shortcut some months ago.
    • dehrmann 2y ago
      Most people aren't willing to pay for content, and it's harder to target ads, or you're not showing ads at the right time.
  • dehrmann 2y ago
    Condé practically forgetting about reddit was one of the best things that happened to it. There was pressure to scale the side up, but they didn't have time to chase engagement metrics to the detriment of the experience. It's probably the only $10B+ tech company I can think of that ran so lean for so long.