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.

  • Lvxferre@lemmy.mlM
    16·
    10 months ago

    But there is definitely room for a subscription that either boosts user engagement (not sure how that would work)

    Swap “subscription” for “multiple small transactions” and you have the new gold system. So Reddit is already doing what you (and me, and everyone else) was predicting them to, we just didn’t know “how”.

    It’ll likely fail hard though, at least in the long run. For similar reasons as Digg failed.