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.

  •  BudgieMania   ( @BudgieMania@kbin.social ) 
    6•10 months ago

    I think there are a lot of extreme measures that would theoretically increase its profitability that they have not yet taken, most of which I have to assume are in the cards in the foreseeable future.

    Most of them are, of course, measures that would severely impact user experience in a very negative way, but it’s clear at this point that they are drunk on hubris and believe users will stay no matter what.