this post was submitted on 29 Nov 2023
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SNOOcalypse - document, discuss, and promote the downfall of Reddit.

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Reddit might once again be flirting with an IPO (techcrunch.com)
submitted 11 months ago by lvxferre@lemmy.ml to c/snoocalypse@lemmy.ml
68 comments fedilink hide all child comments
 

IPO = Initial Public Offering, where shareholders offer to sell their shares to the public, shifting a company from a "private company" (it belongs to me, you, and that guy) to a "public company" (it belongs to anyone who pays enough for the shares).

The userbase has been always touchy when it comes to IPO, and rightfully so; they know that the new owners will only care about squeezing the platform dry. As such, I predict a new flood of Redditfugees to Lemmy and Kbin.

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[–] Jackcooper@lemmy.world 53 points 11 months ago (2 children)

Imagine investing in reddit, an actively hostile user base that will do anything to avoid ads and will completely bolt if you take the porn away.

[–] theangryseal@lemmy.world 14 points 11 months ago (1 children)

They’ve already ran plenty of us off too. I used it for more than a decade. I miss good video subs though.

[–] MycelialMass@lemmy.world 5 points 11 months ago

I'm waiting for peertube to get sorted, hopefully doesn't take too long.

[–] SharkEatingBreakfast@sopuli.xyz 11 points 11 months ago* (last edited 11 months ago)

Think of the astroturfing opportunities!!