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In unsurprising news, Reddit prepares IPO (www.businessinsider.com)
submitted 2 years ago by cygnus@lemmy.ca to c/snoocalypse@lemmy.ml
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Now the social media platform is aiming for an IPO in the first quarter of 2024 with a valuation of $15 billion, and has been in talks with potential investors like Goldman Sachs and and Morgan Stanley, per Bloomberg.

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[-] robocall@lemmy.world 19 points 2 years ago

Genuine question: how can a website that's never turned a profit be worth $15 billion dollars?

[-] RizzRustbolt@lemmy.world 12 points 2 years ago

Because now it's sanitized for capitalism's protection.

[-] nova_ad_vitum@lemmy.ca 2 points 2 years ago

Most people still aren't paying for it though.

[-] Cowbee@lemmy.ml 3 points 2 years ago

Advertisers do.

[-] robocall@lemmy.world 2 points 2 years ago

Does that mean now it will start generating profit?

this post was submitted on 07 Jan 2024
497 points (100.0% liked)

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