Reddit Advised to Target at Least $5 Billion Value in IPO
www.bloomberg.com
Reddit Inc. is weighing feedback from early meetings with potential investors in its initial public offering that it should consider a valuation of at least $5 billion, according to people familiar with the matter, even as it is estimated below that figure in the volatile market for shares of private companies.
  • Cratermaker@discuss.tchncs.de
    0·
    9 months ago

    I’ve already left, but seeing them marching towards an IPO makes me even happier with my decision. I just fear that the mountains of helpful troubleshooting and advice on Reddit will be locked away forever soon, while the rest of the web falls to SEO and AI-generated nonsense text…

  • /home/pineapplelover@lemm.ee
    0·
    9 months ago

    Imo Reddit has been the winner of the 3rd party apps and fuck spez protests. The users came crawling back. A few of us went to lemmy and formed quality communities, but for the most part, a large majority are on there.

    • PlainSimpleGarak@lemm.ee
      1·
      9 months ago

      There’s very little quality on Lemmy. It lacks diversity. It’s quite authoritarian left. Tankies under every rock. Even in non-politics communities. I still use a forked version of Boost to lurk reddit. But as someone else said, if never recommend Lemmy to anyone I actually know.

    • criticon@lemmy.ca
      1·
      9 months ago

      Did they? Other than /nfl most of the communities I followed went to shit very quickly and haven’t recovered. They are mostly bots talking to bots or the same questions and post over and over with minimal new content

      • FenrirIII@lemmy.world
        1·
        9 months ago

        For me, it was politics that sank Reddit. I was banned from a half dozen news forums for criticism of the IDF in Gaza at the beginning of what most people now acknowledge to be an ethnic cleansing. I reported every account calling for murder and genocide of Palestinians, which is against the Reddit TOS. They permanently banned me for “report abuse” for doing their jobs for them. They have obviously shown that there’s no freedom of speech, even when you follow the rules, if it goes against the feelings of the administration and the unelected moderators. Fiefdoms ruled by angry internet trolls shouldn’t get an IPO.

        • Corkyskog@sh.itjust.works
          1·
          9 months ago

          Shadowbanned from r/news and God knows what other subredits, because I refused to add an email. Banned from r/politics because I said that not wearing a mask during Peak COVID was a death wish. (Apparently that’s promoting violence or whatever?). Banned from r/Pyongyang because I dared question next months chocolate rations.

          Site is a complete shithole.

    • iyaerP@lemmy.world
      0·
      9 months ago

      Lemmy’s very nature killed it for me.

      It’s way too much work to try and cultivate the setup I built with ease on reddit.

      I’m still here, but the site iddn’t make it easy.

      • OpenStars@startrek.websiteEnglish
        1·
        9 months ago

        No it does not indeed.:-|

        It’s worth noting that Reddit changed too, permanently, both in terms of ease of use (not only 3rd-party apps, but also the mobile and desktop browser routes too) and in how many content creators simply left - who knows what they are even doing now (reading books, touching grass, some came here ofc). Even many niche subs over there are empty, dead, or one may consider them dying from lack of interesting content (though those people still there I expect would be resistant to admit that).

        And it will be interesting to see how that changes further, the moment they get their IPO and thus can finally kill off old-Reddit, which still allows you to block ads iirc? That will drive additional content creators away. Perhaps they will come here - despite how we are not ready for that.

        Anyway, the old Reddit is just flat gone, for many people, and there is no going “back”, ever, even if you wanted to, it’s not there to return to, especially after the IPO changes it still further.

        • FaceDeer@kbin.social
          1·
          9 months ago

          I still visit Reddit and that’s definitely been my experience - my front page diversity has gone way down, many of the subreddits I am subscribed to have basically gone silent. There’s still a few specialized ones left, and the big news ones I still read, but only in old reddit. When old Reddit is gone then so am I.

          • OpenStars@startrek.websiteEnglish
            1·
            9 months ago

            Why wait? Jump now! Hehe, okay so only you know your schedule, it’s mostly just a funny phrase (but also: don’t sleep on it forever - you don’t want to be surprised one day when it disappears overnight with no notice).

            For me, it’s not just emptiness - it’s the site being devoid of content anymore. Like look at r/firefox after the mods left (I forgot which communities got ousted vs. who left voluntarily, but either way that community packed up and followed them iirc). It is all just the most basic of questions “how do I…?”, often with later edits “I should not have bothered asking, these people will just yell at you”. Just about every post has 1 or 0 upvotes (though more uncommon spikes above 10 do exist, and even rare ones with hundreds), but the titles of the popular posts are all things that are extremely common knowledge - “Mozilla says Apple’s new browser rules are “as painful as possible” for Firefox”, “YouTube is loading slower for users with ad blockers yet again”, “Will Firefox survive in the browser market?”, “Chrome wants to track me? Bye. I use Firefox …”, “Google settles $5 billion privacy lawsuit over tracking people using ‘incognito mode’ (Re: Switch to Firefox ASAP).” These are things that I constantly hear about on Lemmy.

            And even more than that, I dread speaking there after Rexit - the trolls omg the trolls… it’s just not fun. Then again, I tended to make posts advertising useful alternatives to Reddit, so you could argue that I brought that upon myself? :-P (edit: although in a community that calls itself by the name r/RedditAlternatives, THAT was the POINT of the discussion that we were TRYING to have there!!)

    • Quadhammer@lemmy.world
      01·
      9 months ago

      Nah I’ve had a reddit account since the dawn of time and I’ve now switched completely over to lemmy. Can’t remember the last time I logged onto reddit

      Now we can watch this place grow into the thick veiny caterpillar reddit always should have been

  • jubilationtcornpone@sh.itjust.worksEnglish
    0·
    9 months ago

    $5 Billion for a chronically unprofitable, niche social media platform in an already crowded field. Yeah, Ok. You’d get a better return on your investment if you just burned the money for heat.