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In unsurprising news, Reddit prepares IPO (www.businessinsider.com)
submitted 10 months 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 18 points 10 months ago

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

[-] RizzRustbolt@lemmy.world 11 points 10 months ago

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

[-] robocall@lemmy.world 2 points 10 months ago

Does that mean now it will start generating profit?

[-] nova_ad_vitum@lemmy.ca 1 points 10 months ago

Most people still aren't paying for it though.

[-] Cowbee@lemmy.ml 3 points 10 months ago

Advertisers do.

[-] Drewfro66@lemmygrad.ml 1 points 10 months 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
476 points (95.6% liked)

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