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Reddit files to list IPO on NYSE under the ticker RDDT
(www.cnbc.com)
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this post was submitted on 22 Feb 2024
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The big question, of course, is what can we do to help make sure it tanks?
If you think it’ll tank, you’re just as deluded as the people that came here in the Exodus (myself included) who think Reddit is dying.
The vast majority of people still use it and it will make money.
Edit: Just look at how pretty much all the largest corporations can treat their customers and still make money. Reddit will force ads down everyone’s throats and sure some will leave, but the vast majority done care. Also, you have to factor in selling data for AI and and targeted ads etc.
As sad as it is I think you're right. The same was said about facebook and even though they had a bumpy road it's bigger than ever before. Nothing being sold at the stock market follows any logical rules, it's so much emotion that sells stuff. And as long as it makes money, nobody cares about racism or pedophilia or any other bad thing. I thought that's why we hate capitalism that much.
This is what I am saying. I am honestly surprised at the consensus on my comment, but I respect other people can have a different opinion.
Facebook went public at a time when they were THE social media site and everyone's aunty was on it.
I've been on reddit for probably 12 years and know few people irl that use it (not usa mind you). Moreover they don't really have a plan and they do have competition. Ignoring for a second that 99% of lemmy users are probably disgruntled ex redditors. Why should anyone invest som ofnl their savings in reddit going public, besides playing wall Street bets? Is there anything there to believe in? Do they have a credible plan to increase users and monetise that increase? In other words, any "step 3: profit" to buy into?