this post was submitted on 09 Jun 2023
185 points (99.5% liked)

Reddit

13623 readers
1 users here now

founded 5 years ago
MODERATORS
norz@lemmy.ml
185
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
70 comments fedilink hide all child comments
 

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.

you are viewing a single comment's thread
view the rest of the comments
[–] needadvicebadly@kbin.social 2 points 1 year ago (1 children)

Well, TikTok is the most recent contender. ByteDance is a private Chinese company though, so it’s hard to get accurate numbers.

[–] merc@sh.itjust.works 1 points 1 year ago

Yeah, there are a few Chinese apps that may be profitable like Weibo, WeChat, TikTok, etc. But, it's hard to really know. Also, the ones that are China-based may not be profitable outside China. Like, apparently WeChat is more a platform than a social media app, and people use it for payments, gaming, and all kinds of other things. That might not translate to any other country.