SNOOcalypse - document, discuss, and promote the downfall of Reddit.

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In unsurprising news, Reddit prepares IPO (www.businessinsider.com)

submitted 10 months ago by cygnus@lemmy.ca to c/snoocalypse@lemmy.ml

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Now the social media platform is aiming for an IPO in the first quarter of 2024 with a valuation of $15 billion, and has been in talks with potential investors like Goldman Sachs and and Morgan Stanley, per Bloomberg.

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[–] AnAngryAlpaca@feddit.de 1 points 10 months ago (1 children)

That is not important. They sell attention from millions of users to advertisers, just like Facebook, google, YouTube, TikTok, ...

[–] roguetrick@kbin.social 1 points 10 months ago* (last edited 10 months ago)

Every single group you listed selfhosts and uses local data centers to reduce transit fees. It's very important because it's how you handle the costs on your business model. Ad revenue generally forces you to operate on tight operating margins. Compare that to another cloud hosting utilizing video provider that nearly sunk despite being quite popular: Vimeo. If you think this stuff is not important, see Twitch's exit from Korea over transit fees.