• ThatGirlKylie@lemmy.world
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    1 year ago

    True, but the valuation is for investors and per fucknut, Reddit isn’t making any money, hence the api push to a paid platform.

    Also, Reddit is going public soon when they IPO and investors aren’t going to want to invest in a bot ridden, non active community.

    I’d say 75%+ used Reddit on their phones and many of them used 3rd party apps.

    The point is, Reddit IPOing soon and then this fiasco is the worst thing for them.

    • zeppo@lemmy.world
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      1 year ago

      Splez recently said he thinks they will now go for the IPO later than they had planned originally. So I guess he’s hoping this will blow over, the public/investors will forget and they’ll recover. I’m not so sure.