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this post was submitted on 08 Jun 2023
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Technology
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They are going IPO. They are expecting investors to pay 10-15 BILLION DOLLARS for Reddit. Those investors are going to want to extract several times that from the Reddit userbase. Up until this point, Reddit has not been concerned about even breaking even.
Reddit has changed dramatically in the last ten years but it's nothing compared to what is about to happen. Reddit is not the product. Reddit's users are the product. And right now, they are going up for sale to the public for exploitation. The pig is finally being taken to the market. Shit is going to change.
Didn't Yahoo sell for some ridiculous price like 12 billion dollars a few years back? If someone is willing to pay that for a basically dead legacy site, I could see someone doing the same for reddit, especially with all their pro corporate, pro advertising changes as of late.