this post was submitted on 09 Jun 2023
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Reddit CEO Admits "we are not profitable" right before upcoming IPO (old.reddit.com)
submitted 1 year ago by Technoguyfication@kbin.social to c/reddit@lemmy.ml
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How do you address the concerns of users who feel that Reddit has become increasingly profit-driven and less focused on community engagement?

We’ll continue to be profit-driven until profits arrive. Unlike some of the 3P apps, we are not profitable.

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[–] planet_barf@beehaw.org 2 points 1 year ago (1 children)

A company that isn't profitable will still compensate their CEO, so spez is certainly taking gone a big paycheck. In addition, these net worth calculations also take into account stock. Spez most likely still owns a piece of Reddit, and that would be a factor.

You can still get very rich off of a company that isn't profitable.

[–] xchgeaxeax@sh.itjust.works 2 points 1 year ago

Case and point: Adam Neumann