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Reddit wants to raise $748M with IPO, sets value at $6.4B
(go.theregister.com)
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this post was submitted on 11 Mar 2024
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That's absolutely true. But what exactly has Reddit been expanding into? Its not like they've got AWS like Amazon or they're rapidly expanding their infrastructure footprint like NextEra or some novel product like OpenAI.
As far as I can tell, the company's biggest primary expense is administrative overhead. Not exactly value-add.
Given that CEO pay was like 30% of their budget last year, administrative overhead seems like a good guess
Not a clue, but they did go from having 230 employees back in 2017 to 400 in 2018, 700 in 2021 to finally over 2000 in 2023.
So they have to be doing something. ...right?
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