Spez has been correctly advised that investors are going to be concerned with profitability, or at least a viable pathway to profitability.
There’s a huge startup bubble starting to burst. Companies reliant on cheap money to supplement a business model that at best is years away from profitability but in some cases decades or will never be profitable.
Uber and Doordash IPO’d when money was cheap and investors were fine with speculating on these disruptive, yet unprofitable, companies.
I work broadly in the VC funded start-up world. My observation is that money is running out. All of these companies are trying to commercialize, even if the product isn’t fully ready, because they have to show revenue and there has to be a path to profitability of that revenue. That’s the only way they’ll get more money.
In this context, Reddit is more like these startups. They’ve been funded by investors, including big ones like Condé Nast and Ten Cent, and they need more money, so they have to show a path to profitable revenue.
The IPO is going to be a shit show. I wouldn’t touch it with a 9 foot pole. Reddit has been notoriously unprofitable for its entire existence. Now there’s no more juice to squeeze and their backers want to pawn it off on retail investors.
Agree, OPs experience sucks and it’s good perspective but YSK should be focused on facts.