this post was submitted on 09 Jun 2023
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Reddit CEO Admits "we are not profitable" right before upcoming IPO (old.reddit.com)
submitted 1 year ago by Technoguyfication@kbin.social to c/reddit@lemmy.ml
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How do you address the concerns of users who feel that Reddit has become increasingly profit-driven and less focused on community engagement?

We’ll continue to be profit-driven until profits arrive. Unlike some of the 3P apps, we are not profitable.

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[–] darkkite@lemmy.ml 29 points 1 year ago (16 children)

they fumbled so hard. they could have had millions of new subscribers if they locked the api key under reddit premium and allowed 3rd party app to enter user api keys

50 a year isn't terrible depending on your use case, but they burned so much good will

[–] picpak@lemmy.ml 6 points 1 year ago

This is what I was thinking. Heck, they could've increased the price of premium, locked the API behind it and keep a certain percentage of the third party apps' cut, similar to how the App Store runs.

They could've been greedy pigs and STILL won.

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