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what leverage did they really need? Reddit never made any profit and was clearly not on the path to making any. Therefore, conde nast might as well take a fly
by x0x0 11y ago
what leverage did they really need? Reddit never made any profit and was clearly not on the path to making any. Therefore, conde nast might as well take a flyer in the hopes of turning a loss-making asset into a revenue-making asset.
- deelowe 11y agoMy point was simply that the details of the conde nast deal weren't shared afaik. You don't just cut and run from a company valued at >$200m (at the time) even if it's currently in the red.