Reddit's cofounder said that at first the company felt like 'a homework assignment that got out of hand' rather than a business
www.businessinsider.com
Reddit's cofounder Steve Huffman said in its early days he filled up most of the site with content using different accounts until it got more users.

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.

  • Cyborganism@lemmy.ca
    1·
    2 years ago

    Let the enshittification begin continue. Now that stockholders will be expecting increasing profits, I don’t see how Reddit can remain free to use.

    • Lvxferre@lemmy.mlM
      2·
      2 years ago

      I feel like Greedy Pigboy and Reddit Inc. as a whole deserve to be punished, for all that “my precious data! No, it is not the users’, IT IS MINE! MY PRECIOUS!” fiasco. Enshittification will happen either way.

      • Cyborganism@lemmy.ca
        0·
        2 years ago

        Exactly. Reddit has been building this huge knowledge base for well over a decade. Built by the users themselves. He knows what he’s got.

        I think I’ll go ahead and log back in and delete all my old posts and comments. Fuck him.

        • Nythos@sh.itjust.works
          1·
          2 years ago

          I deleted all my comments barring one which was a reply to Spez himself calling him a spineless coward after lying about the Apollo dev.