this post was submitted on 20 Mar 2024
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They're making money. It's just not a really high amount.
It’s quite literally in the disclosures and the article you are commenting on. They lost $151MM in 2022 and $90MM in 2023.
Source? All the ones I can find say they're still losing money. 800M in revenue but 940M in expenses for 2023. https://www.marketwatch.com/amp/story/reddits-ipo-raises-questions-about-profitability-heres-how-it-makes-money-01f73f04
To be fair that means they'd be making money without spez's 193 million salary. https://fortune.com/2024/03/19/reddit-ceo-steve-huffman-defends-193-million-compensation-following-backlash-unpaid-moderators/
According to that link, his salary was "only" half a million. Or does he get 193 million in stock each year?