this post was submitted on 18 Jun 2023
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SNOOcalypse - document, discuss, and promote the downfall of Reddit.

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SNOOcalypse is closing down. If you wish to talk about Reddit, check out [email protected], [email protected] and [email protected].

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Reuters — Reddit’s golden geese foul up its IPO plans (www.reuters.com)
submitted 1 year ago by [email protected] to c/[email protected]
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[–] [email protected] 19 points 1 year ago (1 children)

Still, with a chunk of Reddit shut down, there’s no initial public offering. So if Huffman really wants to go public, he will need to find a way to align moderators and investors. One option would be to pay mods, or – if they don’t want to become de-facto employees – reward them in other ways. For example, he has pledged to develop new tools to replace the beloved apps. Either path involves higher costs, and a more tortuous path to profitability.

In short, the mods have shown that Reddit needs a business-model tweak. And potential investors will want to see it in action before shelling out for the shares, which makes a rushed IPO seem unwise. The self-branded “front page of the internet” has been waiting to IPO since 2021; it may have to moderate its expectations again.

Gotta love it.

[–] [email protected] 21 points 1 year ago (1 children)

Honestly this is the thing that matters the most. He can not listen all he wants, but if he won’t, then fuck him and his IPO.