this post was submitted on 28 Feb 2024

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Reddit’s IPO Filing Shows Lots Of Losses After Nearly 20 Years (www.forbes.com)

submitted 8 months ago by Clbull@lemmy.world to c/technology@lemmy.world

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[–] Semi-Hemi-Demigod@kbin.social 164 points 8 months ago (15 children)

Research and development, at $438.3 million

What in the fuck has Reddit developed in the last year that cost half a billion fucking dollars?

[–] muntedcrocodile@lemmy.world 101 points 8 months ago

The executive payroll

[–] herrcaptain@lemmy.ca 81 points 8 months ago (1 children)

Hey, it's not easy to make a shitty new redesign of a site. That stuff costs money.

[–] jol@discuss.tchncs.de 13 points 8 months ago

Twice

[–] jballs@sh.itjust.works 79 points 8 months ago (1 children)

Remember when they killed API access claiming it cost the 10s of millions each year? Turns out they could have just not spent so much on reddit avatars and we'd all still be there today.

[–] Kushia@lemmy.ml 13 points 8 months ago

They could have just paid the CEO a little less to cover it too. It was just greed so they could sell the data at a pittance, even though the cat is already out of the bag.

[–] nucleative@lemmy.world 27 points 8 months ago (2 children)

I haven't seen that "you broke reddit" message in a while. Maybe they bought more servers?

[–] Patches@sh.itjust.works 31 points 8 months ago

Because I haven't been back since the API Debacle...

FTFY

[–] Moobythegoldensock@lemm.ee 4 points 8 months ago

The two options to fix that are either buy more servers or make enough idiotic decisions to drive your user base away that traffic is no longer an issue anymore.

I wonder which one reddit opted for?

[–] LiveLM@lemmy.zip 18 points 8 months ago* (last edited 8 months ago) (1 children)

An ugly new logo, continued development on world's shittiest mobile app, and a terrible brand new UI for the website (not to be confused with the previous terrible new UI)

Oh yeah, they also did some NFT bullshit, almost forgot about that one.

[–] pewgar_seemsimandroid@lemmy.blahaj.zone 4 points 8 months ago (1 children)

3d probably shouldn't be in logo's except mabye for the apple photos app because coloured glass

[–] Aatube@kbin.social 1 points 8 months ago

Skeumorphism has entered the chat

[–] theodewere@kbin.social 17 points 8 months ago* (last edited 8 months ago)

they're selling the ability to harvest data, not provide a platform for anything particularly useful.. they are developing data harvesting tools, including for AI..

[–] eran_morad@lemmy.world 16 points 8 months ago

Those stupid fkn icons or smth

[–] Kbin_space_program@kbin.social 12 points 8 months ago

Monetization and adware.

[–] CosmoNova@lemmy.world 11 points 8 months ago

Let‘s see, almost 200 million to their CEO, almost 100 million to their COO. They also got a new logo!

Jokes aside I‘m as floored as you.

[–] Shdwdrgn@mander.xyz 11 points 8 months ago

Maybe they're bankrolling theDonald's NYC fines.

[–] btaf45@lemmy.world 10 points 8 months ago

They are paying lots of programmers. 99% of which are unneccessary, to enshitify the site with new features that subtract value for users.

[–] Tronn4@lemmy.world 6 points 8 months ago

They were giving reddit gold to everyone

[–] nullPointer@programming.dev 4 points 8 months ago

you think 'place' was free?

[–] refurbishedrefurbisher@lemmy.sdf.org 2 points 8 months ago

They gotta sell access to AI companies somehow.