SNOOcalypse - document, discuss, and promote the downfall of Reddit.

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In unsurprising news, Reddit prepares IPO (www.businessinsider.com)

submitted 11 months ago by cygnus@lemmy.ca to c/snoocalypse@lemmy.ml

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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.

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[–] frauddogg@lemmygrad.ml 8 points 11 months ago (1 children)

Tumblrfication in 24 months time. Trying to pump it for profit will see the bottom fall out; we've watched it happen dozens of times before

[–] Cowbee@lemmy.ml 2 points 11 months ago (1 children)

Hence why leftist, decentralized social media is much better. Remove the profit motive and enshittification vanishes.

[–] frauddogg@lemmygrad.ml 2 points 11 months ago (1 children)

I miss when my biggest problem with online communities were phpBB badmins and troll-happy IRCops, honestly

[–] Cowbee@lemmy.ml 2 points 11 months ago

The emergence of FLOSS micro-social media as an answer to Capitalist social media's decline is wonderful to see, honestly. Makes me hopeful that leftist structures will continue to gain traction, even if it's slow.