this post was submitted on 28 Feb 2024
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Reddit’s IPO Filing Shows Lots Of Losses After Nearly 20 Years (www.forbes.com)
submitted 1 year ago by Clbull@lemmy.world to c/technology@lemmy.world
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[–] Semi-Hemi-Demigod@kbin.social 164 points 1 year ago (14 children)

Research and development, at $438.3 million

What in the fuck has Reddit developed in the last year that cost half a billion fucking dollars?

[–] muntedcrocodile@lemmy.world 108 points 1 year ago

The executive payroll

[–] herrcaptain@lemmy.ca 85 points 1 year ago (1 children)

Hey, it's not easy to make a shitty new redesign of a site. That stuff costs money.

[–] nucleative@lemmy.world 23 points 1 year ago (1 children)

I haven't seen that "you broke reddit" message in a while. Maybe they bought more servers?

[–] Moobythegoldensock@lemm.ee 4 points 1 year ago

The two options to fix that are either buy more servers or make enough idiotic decisions to drive your user base away that traffic is no longer an issue anymore.

I wonder which one reddit opted for?

[–] LiveLM@lemmy.zip 20 points 1 year ago* (last edited 1 year ago)

An ugly new logo, continued development on world's shittiest mobile app, and a terrible brand new UI for the website (not to be confused with the previous terrible new UI)

Oh yeah, they also did some NFT bullshit, almost forgot about that one.

[–] theodewere@kbin.social 18 points 1 year ago* (last edited 1 year ago)

they're selling the ability to harvest data, not provide a platform for anything particularly useful.. they are developing data harvesting tools, including for AI..

[–] CosmoNova@lemmy.world 14 points 1 year ago

Let‘s see, almost 200 million to their CEO, almost 100 million to their COO. They also got a new logo!

Jokes aside I‘m as floored as you.

[–] Kbin_space_program@kbin.social 11 points 1 year ago

Monetization and adware.

[–] btaf45@lemmy.world 10 points 1 year ago

They are paying lots of programmers. 99% of which are unneccessary, to enshitify the site with new features that subtract value for users.

[–] Shdwdrgn@mander.xyz 8 points 1 year ago

Maybe they're bankrolling theDonald's NYC fines.

[–] nullPointer@programming.dev 5 points 1 year ago

you think 'place' was free?

[–] Tronn4@lemmy.world 5 points 1 year ago

They were giving reddit gold to everyone

[–] refurbishedrefurbisher@lemmy.sdf.org 2 points 1 year ago

They gotta sell access to AI companies somehow.