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this post was submitted on 21 Jun 2023
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Does this corporation have a board? What the fuck are they doing exactly? I mean it's private, so it's probably just a bunch of buddies, but there's been a ton of seed funding at Reddit, no? Like wouldn't these venture capitalists care? Clearly not, but this is definitely getting comical. What a fucking disaster. This is going to be textbook business class case material for years to come.
They sold to Conde Nast, a giant media conglomerate.
Conde transferred ownership one level up the food chain. So the people in charge aren't used to any kind of media, let alone social media.
Wild - Conde Nast also absolutely tanked the Bon Appetit YT channel. I had no idea they had purchased Reddit
Conde Nast didn't exactly handle the Bon Appetite YouTube channel fiasco very well.
But then again that channel is still going. Less productive than all the people that left and made their own content though.