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Fidelity has cut Reddit valuation to $5.5B from $10B
(techcrunch.com)
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this post was submitted on 30 Jun 2023
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If the company can be made profitable, why isn't it? Why wouldn't the current owner rake in some profits before selling? Surely a company that is already profitable would be even more attractive for buyers.
Because it takes time to get that potential.
The sellers want money now, while the buyers are okay with waiting.
Reddit has been around for 18 years, though. Surely that's more than enough time to start turning a profit if the company is capable of it?