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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
177 comments fedilink hide all child comments

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 18 points 2 years ago

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

[-] RizzRustbolt@lemmy.world 11 points 2 years ago

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

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

Does that mean now it will start generating profit?

[-] nova_ad_vitum@lemmy.ca 1 points 2 years ago

Most people still aren't paying for it though.

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

Advertisers do.

[-] Drewfro66@lemmygrad.ml 1 points 2 years ago

Uber has also never turned a profit. Share prices aren't based on the value of the company, they're based on how much people think the company will be worth in the future

this post was submitted on 07 Jan 2024
477 points (95.4% liked)

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