NEW YORK, Feb 7 (Reuters Breakingviews) - Social media platform Reddit, which helps its users “dive into anything,” may finally plunge into the public markets. The 19-year-old company made over $800 million in sales last year, at least 20% more than in 2022, according to Bloomberg. But a dearth of profit this late into its existence portends the lack of a real business model, suggesting it’s still not ready for public company life.
https://www.reuters.com/breakingviews/investors-will-say-ok-boomer-aging-reddit-2024-02-07/
Original link: https://www.reuters.com/breakingviews/investors-will-say-ok-boomer-aging-reddit-2024-02-07/
Well yeah, the joy of owning a part of a business that is important to you is part of the reason i support worker co-ops.
Back when i liked Reddit i would have LOVED to own a tiny share of it, it would have given a new meaning to being a moderator. But now in 2024 the DSP program left me feeling dejected.
Wouldn’t mind owning shares is Mastodon though.