If the market for initial public offerings recovers in the new year, one company that aims to go public early on is Reddit. An IPO will put the spotlight on the prospects for Reddit’s advertising business, which has fallen short of ambitious growth targetsoutlined by executives two years ago. ...
  • gedaliyah@lemmy.worldEnglish
    1·
    11 months ago

    Well shucks, all they did was drive out their most active content makers and cut themselves off from hundreds of thousands of dollars in free moderation labor. Who could possibly have seen this coming?

  • deweydecibel@lemmy.worldEnglish
    1·
    11 months ago

    Reddit’s value as a social media platform drops as it’s value to advertisers rises. The karma system is democratic, the userbase shapes the visual content on the site, that’s was makes it useful. The more mutilated it becomes in service of extracting money from advertising, the less genuine it is, and the less people will seek to use it.

    Spez would like to believe Reddit is a cow that can be milked forever.

    In reality Reddit is a pig that Spez seems to believe he can get bacon from forever. Except to get that bacon, you have to kill it, and you can only do that once.

  • iforgotmyinstance@lemmy.worldEnglish
    0·
    11 months ago

    Reddit who?

    If I can’t browse my way, I simply don’t use the site.

    If reddit pops up in a search result on my browser, wellll best believe I have multiple adblockers making sure their ads don’t load.

    • Mikina@programming.devEnglish
      0·
      11 months ago

      And every time a Reddit results show up, I’m immediately reminded why I don’t want to go there by an error telling me that I can’t use the site without logging in.

      Fortunately, just changing the link to old.reddit.com still works even through VPN, but fuck this behavior. I do that only for questions I really need an answer and couldn’t find anywhere else, and most of the time the replies are shit anyway.

    • FlumPHP@programming.devEnglish
      0·
      11 months ago

      Reddit expects to finish this year with ad revenue … slightly over $800 million… Reddit had said two years ago it aimed to exceed $1 billion in ad revenue by 2023…

      So they missed their two year goal by 20%. They had forecasted a 2.9x growth and achieved 2.3x

      When it comes time to IPO, they’ll just blame the economy and ad blockers, while showing how many users they forced into their app where ad blocking is harder.

      • PorkSoda@lemmy.worldEnglish
        0·
        11 months ago

        while showing how many users they forced into their app where ad blocking is harder.

        Laughs in DNS-level blocking

  • steve_floof@lemm.eeEnglish
    01·
    11 months ago

    I read somewhere that Reddit cannot advertise on its sexually explicit subs, so I use Reddit exclusively for smut. Lemmy for all my non-smut needs