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Reddit Advised to Target at Least $5 Billion Valuation in IPO (www.bloomberg.com)
submitted 5 months ago by ardi60@reddthat.com to c/reddit@lemmy.world
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[-] ZeroCool@slrpnk.net 146 points 5 months ago

Thank fuck Lemmy exists. Reddit has been a shell of its former self for a very long time but in the last two years or so it’s gotten awful. Things will only get worse once Reddit goes public.

Lemmy reminds me of what Reddit was when I joined in 2011. Much smaller user base that tends to be tech savvy. It’s an old school forum vibe I thought was gone forever.

[-] zzzeyez@lemmy.ml 19 points 5 months ago

plus it doesn't have that whole half-the-userbase-is-US-Military-bots thing goin on

[-] Duamerthrax@lemmy.world 12 points 5 months ago

There were definitely more than just US Military bots on that site.

[-] m13@lemmy.world 7 points 5 months ago

True. There are also Israeli military bots, and Russian military bots, and Chinese military bots.

[-] Duamerthrax@lemmy.world 5 points 5 months ago

Don't forget all the bots run by various political parties and corporations.

[-] zzzeyez@lemmy.ml 3 points 5 months ago

yeah i'm just referring to the study that was published and then hidden. but i think if you scroll through anything stock-related you'll notice lots of bots too. i think Citadel plays a huge role here

[-] viking@infosec.pub -5 points 5 months ago

Instead we have half a userbase of hardcore leftists. I'd really like to have a solid non-political platform instead.

[-] zzzeyez@lemmy.ml 17 points 5 months ago

did you just say you don't mind capitalism destroying all semblance of life

[-] NotPersonal@lemmy.world 14 points 5 months ago

Sounds nice but I think any platform with humans in it will have politics in it.

[-] someguy3@lemmy.world 128 points 5 months ago* (last edited 5 months ago)

Work harder unpaid mods! Spez needs a bigger yacht!

[-] RedditWanderer@lemmy.world 57 points 5 months ago

I can't believe this idiots still on reddit believe it's "their community" in a publically traded company.

[-] someguy3@lemmy.world 32 points 5 months ago

I think they'll start to realize when Reddit starts posting quarterly profits/losses and we hear about spez's fat paychecks.

[-] empireOfLove2@lemmy.dbzer0.com 35 points 5 months ago* (last edited 5 months ago)

They'll post continuous losses like every social media tech company, and then the users will really begin to feel the screws tighten so far they won't be able to breathe anymore.

[-] DBT@lemmy.world 28 points 5 months ago

Spez doesn’t have a yacht. That’s what got his dick all tied up into a tiny knot in the first place.

[-] robocall@lemmy.world 54 points 5 months ago* (last edited 5 months ago)

$5 billion dollar valuation - never turned a profit ???

[-] astrsk@kbin.social 20 points 5 months ago

Isn’t the venture scene’s motto “loss is the product” or something?

[-] MentalEdge@sopuli.xyz 17 points 5 months ago

Modern tech giants keep taking funding rounds to grow, because what's profit now when you can spend and get bigger, so profit later can be even more huge?

Except investors are finally waking up to the fact that growth doesn't help much if the business isn't profitable, now or ever.

Reddit can pound its chest about how much it thinks it's worth, but that's all it is.

[-] zipzoopaboop@lemmynsfw.com 33 points 5 months ago

I'm just curious how Reddit can get even worse, like everything after it goes public

[-] apex32@lemmy.world 31 points 5 months ago

Probably killing off old.reddit.com.

[-] starman@programming.dev 11 points 5 months ago* (last edited 5 months ago)

Or it won't let you browse reddit.com without an account

[-] zipzoopaboop@lemmynsfw.com 7 points 5 months ago

That's already true for nsfw

[-] goferking0@lemmy.sdf.org 6 points 5 months ago

Unless using old.reddit.com

[-] goferking0@lemmy.sdf.org 8 points 5 months ago

Or removing porn like Tumblr

[-] lvxferre@mander.xyz 26 points 5 months ago* (last edited 5 months ago)

Archived link, for those who are paywalled.

I'm hoping for some mod rebellion crashing this value even further. And by "rebellion" I don't mean just posting Oliver pics; I mean at the very least ditching the subreddits that they moderate. Perhaps a few other things like:

  • organising mass emigration
  • scorching the earth behind (encouraging users to migrate/delete content)
  • filling the site with crap that would discourage other users from ever registering into the site (goatse tier)

I don't think that they'll have the courage to do any of those things though. A Reddit mod - or at least, the ones still modding Reddit - is that sort of dog that someone kicks and then it'll still lick their boot. Spez outright mocked them as "landed gentry" and they're still working for free there, it can't get lower than that.

[-] viking@infosec.pub 23 points 5 months ago

Everyone who wanted out is already out. Current mods have fallen for the narrative or have been installed by reddit.

[-] lvxferre@mander.xyz 8 points 5 months ago

I think that more people will want to leave, as the IPO progresses. Including mods.

My main concern is that won't be fast enough to punish Reddit Inc.

[-] Lucidlethargy@sh.itjust.works 8 points 5 months ago* (last edited 5 months ago)

Google is over-valuing reddit right now, and I sincerely doubt it will continue because their entire search platform is worse than ever.

So this stock likely will not do well in the long run. It may be as simple as virtually all the search traffic being cut the minute they release generative search as a default option.

[-] toiletobserver@lemmy.world 6 points 5 months ago

Wish in one hand, I'll fill the other for them

[-] PPQ@lemmy.world 1 points 5 months ago

I hope it destroys reddit...

this post was submitted on 29 Jan 2024
144 points (95.6% liked)

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