this post was submitted on 07 Jul 2023
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Reddit risks losing its identity in pursuit of profits (www.techzine.eu)
submitted 2 years ago by L4s to c/technology
184 comments fedilink hide all child comments
 

Reddit isn't profitable, despite having more than 50 million daily active users. In preparation for an IPO, CEO Steve Huffman put the platform's API

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[–] d3Xt3r 1 points 2 years ago

...which they brought onto themselves. It was a pure text-based site, with multimedia resources hosted on third-party websites. The hosting for a such a site, especially if you're using a database which supports compression, should be cheap as chips. By allowing multimedia storage without any solid plans for covering expenses and future growth, they bit off more than they could chew. Combined with greed, corporate apathy and a toxic work culture, it was a disaster waiting to happen.