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Reddit has never turned a profit in nearly 20 years, but filed to go public anyway (www.cnn.com)

submitted 8 months ago by L4s@lemmy.world to c/technology@lemmy.world

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Reddit has never turned a profit in nearly 20 years, but filed to go public anyway::Reddit, the message board site known for its chronically online userbase and for originating much internet discourse, filed for its long-anticipated initial public offering on Thursday.

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[–] whoscheckingin@lemmy.ml 8 points 8 months ago

That's why they need to go public in the first place. Investors are like it's right now or you're shutting down, no more free money for you.