Reddit Advised to Target at Least $5 Billion Valuation in IPO
Reddit Advised to Target at Least $5 Billion Valuation in IPO
Reddit Inc. is weighing feedback from early meetings with potential investors in its initial public offering that it should consider a valuation of at least $5 billion, according to people familiar with the matter, even as it is estimated below that figure in the volatile market for shares of privat...
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Thank fuck Lemmy exists. Reddit has been a shell of its former self for a very long time but in the last two years or so it’s gotten awful. Things will only get worse once Reddit goes public.
Lemmy reminds me of what Reddit was when I joined in 2011. Much smaller user base that tends to be tech savvy. It’s an old school forum vibe I thought was gone forever.
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Work harder unpaid mods! Spez needs a bigger yacht!
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Spez doesn’t have a yacht. That’s what got his dick all tied up into a tiny knot in the first place.
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$5 billion dollar valuation - never turned a profit ???
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Isn’t the venture scene’s motto “loss is the product” or something?
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Modern tech giants keep taking funding rounds to grow, because what's profit now when you can spend and get bigger, so profit later can be even more huge?
Except investors are finally waking up to the fact that growth doesn't help much if the business isn't profitable, now or ever.
Reddit can pound its chest about how much it thinks it's worth, but that's all it is.
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I'm just curious how Reddit can get even worse, like everything after it goes public
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Probably killing off old.reddit.com.
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Or it won't let you browse reddit.com without an account
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Or removing porn like Tumblr
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Archived link, for those who are paywalled.
I'm hoping for some mod rebellion crashing this value even further. And by "rebellion" I don't mean just posting Oliver pics; I mean at the very least ditching the subreddits that they moderate. Perhaps a few other things like:
- organising mass emigration
- scorching the earth behind (encouraging users to migrate/delete content)
- filling the site with crap that would discourage other users from ever registering into the site (goatse tier)
I don't think that they'll have the courage to do any of those things though. A Reddit mod - or at least, the ones still modding Reddit - is that sort of dog that someone kicks and then it'll still lick their boot. Spez outright mocked them as "landed gentry" and they're still working for free there, it can't get lower than that.
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Everyone who wanted out is already out. Current mods have fallen for the narrative or have been installed by reddit.
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I think that more people will want to leave, as the IPO progresses. Including mods.
My main concern is that won't be fast enough to punish Reddit Inc.
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Google is over-valuing reddit right now, and I sincerely doubt it will continue because their entire search platform is worse than ever.
So this stock likely will not do well in the long run. It may be as simple as virtually all the search traffic being cut the minute they release generative search as a default option.
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Wish in one hand, I'll fill the other for them
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I hope it destroys reddit...