Reddit revenue rises 20% ahead of IPO, but it isn’t profitable yet (www.businesstimes.com.sg)

submitted 7 months ago* (last edited 7 months ago) by CoffeeAddict@kbin.social to c/RedditMigration@kbin.social

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REDDIT posted a more than 20 per cent rise in revenue in 2023 versus the year before, sources familiar with the situation said, as it prepares for one of the United States’ most anticipated potential initial public offerings (IPOs).

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[-] CoffeeAddict@kbin.social 6 points 7 months ago

The company is moving ahead with its plans to go public more than two years after it first confidentially filed with the US Securities and Exchange Commission. Reddit’s listing is closely watched as a bellwether of an IPO market in the midst of a tentative rebound from a two-year dearth of first-time share sales.

Looks like the enshittification is about to get even worse than it was. Perhaps we might see another exodus to lemmy/kbin once this happens?

[-] originalucifer@moist.catsweat.com 6 points 7 months ago

id like to see another wave. theres a much larger footprint to absorb it than there was 6-7 months ago.

[-] Pamasich@kbin.social 2 points 7 months ago

Perhaps we might see another exodus to lemmy/kbin once this happens?

Don't forget Piefed, the new member of the family.

this post was submitted on 06 Feb 2024

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