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Reddit CEO Admits "we are not profitable" right before upcoming IPO (old.reddit.com)
submitted 1 year 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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[-] needadvicebadly@kbin.social 2 points 1 year ago

Well, TikTok is the most recent contender. ByteDance is a private Chinese company though, so it’s hard to get accurate numbers.

[-] merc@sh.itjust.works 1 points 1 year ago

Yeah, there are a few Chinese apps that may be profitable like Weibo, WeChat, TikTok, etc. But, it's hard to really know. Also, the ones that are China-based may not be profitable outside China. Like, apparently WeChat is more a platform than a social media app, and people use it for payments, gaming, and all kinds of other things. That might not translate to any other country.

this post was submitted on 09 Jun 2023
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