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Reddit has never turned a profit in nearly 20 years, but filed to go public anyway (www.cnn.com)

submitted 8 months ago by L4s@lemmy.world to c/technology@lemmy.world

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Reddit has never turned a profit in nearly 20 years, but filed to go public anyway::Reddit, the message board site known for its chronically online userbase and for originating much internet discourse, filed for its long-anticipated initial public offering on Thursday.

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[–] scarabic@lemmy.world 22 points 8 months ago (3 children)

I think people don’t understand just how good Facebook is at ads. Their relevance engine is unlike anything else. If something 1/3 as effective could be done to Reddit, this place would be making billions.

I’ve run ads on Facebook and I’ve run ads on Reddit. Facebook was like a massage with a happy ending, and Resdit was like being shat on by a vagrant.

There’s absolutely no reason Reddit couldn’t be making tons of money with as much as they know about hobbies and interests in general, and the free traffic they are able to draw to such a mountain of niche content.

I hope not to see Reddit go the way of Facebook. But to say it couldn’t make a profit is not true.

[–] CileTheSane@lemmy.ca 5 points 8 months ago

I feel like the average Reddit user is more likely to be running Adblock than the average Facebook user.

[–] Nurgle@lemmy.world 3 points 8 months ago

People talk about Reddit and AI in terms of what Reddit will do for those LLMs. But I imagine another part of it has to be what they’ll do for Reddit. Like redditors volunteer sooo much information that it’s really an advertises dream if you can start to thread it together.

[–] thomasloven@lemmy.world 1 points 8 months ago

Reddit knows who you really are, but facebook knows who you want to look like you are.

I’d think you’re much more likely to click ads based on the latter.