“We’ve known for over a decade that people come to Reddit to talk about the products they love – take r/BuyItForLife for example, a community of over 1.5 million redditors who have been sharing recommendations and advice about their lifelong, must-have purchases since 2011. These updates will uplevel the search-and-discover experience for both brands and our users by tapping into our differentiated value as a hub for actionable conversation”
Reddit is going to get more desperate now that they are going public. And all of this is before that, can’t imagine what they’ll do with shareholders.
The only hope I have for Reddit - and it’s a vain one, I fully recognize - is that after shareholders buy it they might put a board of directors in place who go “hey, our userbase is bleeding profusely and Reddit alternatives are flourishing, maybe we should do something to staunch that if we want this thing to retain any value.”
The current owners evidently don’t believe that, so an IPO that swaps them out is the only option.
My hope is the IPO crashes and burns so hard that WSB and or Superstonk can afford to buy a majority of the company… although that could lead to some unpredictable changes… lol