Despite this seemingly rosy picture, Reddit is still bleeding money. In the quarter ending June 2024, the company reported revenue of $281.18 million - a 53.63% year-over-year increase - but still posted a net loss of $10.10 million.
Most of the actual work on the site is done by unpaid moderators. Hosting bills are probably huge but not THAT huge. I’m sure they have a decent sized staff, but not THAT big. I wonder what’s going wrong…
Most of the actual work on the site is done by unpaid moderators. Hosting bills are probably huge but not THAT huge. I’m sure they have a decent sized staff, but not THAT big. I wonder what’s going wrong…
Reddit Files to Go Public, Reveals That It Paid CEO $193 Million Last Year
Ohhh… Well, there’s your problem, dumbasses.