Reddit Advised to Target at Least $5 Billion Valuation in IPO

Imo Reddit has been the winner of the 3rd party apps and fuck spez protests. The users came crawling back. A few of us went to lemmy and formed quality communities, but for the most part, a large majority are on there.

Sell it to musk, finish the job

Sure feels like they timed this IPO pretty badly. I think the ideal time to strike on this would have been a few years ago... Based on market conditions anyway. Reddit itself may just not have had their ducks lined up enough, but that's their problem, not the stock market's.

• Tech stocks trading sideways for the last year or two
• The interest rate money printer got shut off and cash is not cheap anymore
• Seemingly all the major new tech stock investment interest is circling around stuff like AI
• Federated alternatives are slowly building steam and people seem to have gotten pretty salty about corporate social media
• The pandemic is more or less over and people have pulled back from being chronically online somewhat (this is my guess, I don't have data to back it up)

Also what exactly is the monetization strategy? Ads I guess? More catering towards creating corporate "synergy" with the Reddit community? Selling user data/content? So basically making the place suck considerably worse for users is what it looks like to me.

I've already left, but seeing them marching towards an IPO makes me even happier with my decision. I just fear that the mountains of helpful troubleshooting and advice on Reddit will be locked away forever soon, while the rest of the web falls to SEO and AI-generated nonsense text...

Good fucking luck with that

for that bot-infested shitposting dump?

I 100% can see it easily selling for that much.

You want to know why it's worth that much?

Petabytes of raw training Data for LLMs. Arguably atm reddit us one of the better gold mines of LLM training data on the internet, bazillion of posts already formatted as post-response chains, which is the exact type if format an LLM wants to train on.

Can you imagine how valuable those servers loaded with posts are to a company like OpenAI, Google, or Microsoft?

5 billion is quite reasonable to harvest every reddit post that has ever been made ever and cut it off from your competitors.

Lol at the 50% haircut since the API shit.

Can't wait to release this ransomware data this year 😍

Ah... so they're shorting it.

$5 Billion for a chronically unprofitable, niche social media platform in an already crowded field. Yeah, Ok. You'd get a better return on your investment if you just burned the money for heat.

Reddit is such a nice example of capitalism turning a genuinely nice thing into a pile of garbage.

Meanwhile tech is hemorrhaging.

Good luck Reddit! 😂

Can you short an IPO?

Everyone here are thinking $5 billion means Reddit won. Wasn’t their evaluation at $15 at one point?

They havent been profitable in a decade. What's their plan for monetization?

How about $5?

Would love to see this become the fastest IPO to tank.

For ads? How else do they make money?

Good luck!

Um...really? I don't think so!

I still wouldn't use it, but Elon should buy it so he can more convincingly posture a saviour of independent social media. Just drop the tracking, sell square ads on the sidebar based on content only, open up api for all sorts of uses and make rif is ridiculous fun for reddit the official client. Give it to five geeks to maintain and call it a public service. What's a bit more down the drain? It's all gonna go Midas anyways. At least that would be a win for the internets

Politics and whatever the other maladies are that infect Reddit aside: the app and the website are impossibly difficult to use. Ita just ads ads ads. Even if the place was a veritable utopia that’s a no from me dawg.

Did they fucking recover deleted messages?

I can find every post after automatically editing and deleting them afterwards