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Reddit: Return Of The Junk Stock IPO
(www.forbes.com)
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this post was submitted on 12 Mar 2024
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$6.5B valuation (assuming a standard 20x EPS model) should imply in the neighborhood of $325M/year in revenue from a company that makes about a third of that.
Either Reddit plans on tripling its revenues in the near future or this is an unrealistic target.
It's a sham, imo. I was on reddit for 15 years. It has peaked already. They won't be able to get more for ads and I don't believe their data for AI will go higher than what they've gotten for it this year. The only way they'll be worth more is to cut overhead.