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Investors will say “OK Boomer” to aging Reddit | Reuters | Ghostarchive(ghostarchive.org)

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OpenStars@startrek.website
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reddit@lemmy.world
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NEW YORK, Feb 7 (Reuters Breakingviews) - Social media platform Reddit, which helps its users “dive into anything,” may finally plunge into the public markets. The 19-year-old company made over $800 million in sales last year, at least 20% more than in 2022, according to Bloomberg. But a dearth of profit this late into its existence portends the lack of a real business model, suggesting it’s still not ready for public company life.

https://www.reuters.com/breakingviews/investors-will-say-ok-boomer-aging-reddit-2024-02-07/

Original link: https://www.reuters.com/breakingviews/investors-will-say-ok-boomer-aging-reddit-2024-02-07/

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Bassman1805@lemmy.world
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A cool thing I learned from their public filing is that Spez makes 192M in total compensation, and the company has been running around 150M deficit.

That’s the makings of a very profitable investment, you know 🙄

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AtariDump@lemmy.world
25 points

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Zipitydew@sh.itjust.works
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circuitfarmer@lemmy.world
40 points

My math skills aren’t what they used to be, but I see a short-term solution to their profit issues.

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umbrella@lemmy.ml
2 points

what do you even fucking do with more than 40m/yr

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OpenStars@startrek.websiteOP
2 points

As Wolf of Wall Street explains, at some level it isn’t even “money” anymore, it’s rather numbers like in a game - the goal being to “win”, e.g. Huffman competing against Musk.

No matter how many salaries of irl people are being affected by their childish tantrums:-(.

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Thoth19@lemmy.world
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Isn’t his comp mostly in stock? So if they cut his salary it wouldn’t really affect the profit margin so much as the valuation of his salary

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OpenStars@startrek.websiteOP
16 points

Yeah but also, he’d rather make 400M in total compensation, so like… if you could just see your way clear to helping out that poor, poor, POOR man, that would be great! :-P

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