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 1 year ago by L4s@lemmy.world to c/technology@lemmy.world
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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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[–] el_cordoba@lemmy.world 4 points 1 year ago

There are probably multiple factors going on. First, there is the belief that you can't take away functionality people already expect. Second, while there would be a number of people willing to shell out money, they probably believed a majority of folks would not. Look at what people are willing to put up with at Facebook. I hate it, but most of my friends and family are on it so I'm there. Third, their backers would never approve because of point two.