this post was submitted on 09 Jun 2023
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Reddit CEO Admits "we are not profitable" right before upcoming IPO (old.reddit.com)
submitted 2 years ago by Technoguyfication@kbin.social to c/reddit@lemmy.ml
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How do you address the concerns of users who feel that Reddit has become increasingly profit-driven and less focused on community engagement?

We’ll continue to be profit-driven until profits arrive. Unlike some of the 3P apps, we are not profitable.

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[–] arcrust@lemmy.ml 24 points 2 years ago (5 children)

There were 3 things going for Reddit, content wise: memes, news, hobby subs. It was a 50/50 if my Google search included reddit or Wikipedia. If reddit threw up a banner every 6 months and asked for a donation, I'd gladly throw 20 bucks their way. Reddit should have been a non-profit.

Going public was the absolute worse decision they ever made.

[–] dystop@lemmy.ml 3 points 2 years ago

Every exec wants money for themselves, even if it comes at the cost of the company they run

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