Reddit shares soar 14% after company reports revenue pop in debut earnings report
Reddit shares soar 14% after company reports revenue pop in debut earnings report
We can sell 80 percent of the screen WITHOUT inducing seizures.
Reddit: Hey we lost $140 million dollars and gained literally millions of bots
Everyone: What? HOORAY! That's nowhere near as bad as we thought
IDK why, but a lot of super-successful tech platforms in their early days were made up of a super capable passionate tech dude and a total sociopath weirdo who for some reason attracted money. Reddit was unusual in that the tech guy died and they were left with only the weirdo.
That works for a lot of companies. Founding a company and making it successful is insanely hard (experience). Pulling it off alone is near herculean and a lot of folks I met who had partners were coopted by them later. Its as if the drive and the knowledge required for it usually dont exist in one person.
I still don't understand how Reddit manages to lose so much money.
But yeah, that's how stocks evaluation is. It often increases after bad news and decreases after good news, because people thought it was worse/better.
Their hosting costs I'm sure are astronomical; my guess is that honestly that's most of it.
They're also, if my very limited experience with them is any guide, phenomenally incompetent with their advertising in a way that I'm sure kneecaps what should be a goldmine of ad revenue. You know those brain damaged ads like "Megathread: Why you should move all your money to Schwab" or otherwise trying to imitate Reddit terminology in the least convincing way possible? That's because Reddit tells their advertisers to do that. For real, it's worth looking over Reddit's ad materials sometime, because they are pants-on-head mentally disabled in a way that's honestly a little hard to believe if you haven't checked them out for yourself.
"Revenue pop"....so, even worse user experience?
This is exactly why I finally left the platform entirely. Lemmy for me now
Lemmy for life!
Sorry, I am excitable. I do like it here, though.
Welcome here! Let us know if you have any question
Reddit also reported a 37% increase in daily active users. I think we all know who those are.
Snoo better watch Spez closely; he’s likely to be fucked next.
No, don't worry Snoo is 18 now. Far too old for Spez, former moderator of r/jailbait
😳
Ride the gravy train right into town, run the site into the dirt. I'm happy over here.
He’s also a pedophile. He was moderator of the jailbait subreddit.
Just in case someone thinks this is a troll or wild accusation, it's literally true. (Edit: Or... I don't know specifically that he's a pedophile, but it would seem a little surprising for anyone who isn't a pedophile to participate in an explicitly pedophilic community let alone agree to publicly moderate it.)
He also -- I hadn't known this -- would edit people's comments on the site that were critical of him.
He does not see you, hear you, or even know you. To me, he is faceless to this platform.
I made this image for that reason.