If the market for initial public offerings recovers in the new year, one company that aims to go public early on is Reddit. An IPO will put the spotlight on the prospects for Reddit’s advertising business, which has fallen short of ambitious growth targetsoutlined by executives two years ago. ...
    • FlumPHP@programming.devEnglish
      0·
      2 years ago

      Reddit expects to finish this year with ad revenue … slightly over $800 million… Reddit had said two years ago it aimed to exceed $1 billion in ad revenue by 2023…

      So they missed their two year goal by 20%. They had forecasted a 2.9x growth and achieved 2.3x

      When it comes time to IPO, they’ll just blame the economy and ad blockers, while showing how many users they forced into their app where ad blocking is harder.

      • PorkSoda@lemmy.worldEnglish
        0·
        2 years ago

        while showing how many users they forced into their app where ad blocking is harder.

        Laughs in DNS-level blocking

      • pelespirit@sh.itjust.worksEnglish
        0·
        2 years ago

        Thanks for the info. Can advertisers tell if it’s bots or not? I would think the new users are just them making stuff up.

      • OfficerBribe@lemm.eeEnglish
        0·
        2 years ago

        Falling short of growth targets doesn’t mean they made a negative. Hitting 4% growth instead of 5% is still pretty good for example.

        If you like this comment I made, feel free to tip me with PayPal.

    • MBM@lemmings.worldEnglish
      0·
      2 years ago

      Is that a CC license for your comment? I wonder if it actually works, legally, because I do like the idea that (for example) commercial LLMs wouldn’t be allowed to train on my comments.

    • spudwart@spudwart.comEnglish
      0·
      2 years ago

      Falling short of growth means their going to take aggressive action.

      This is typical traded-company bullshit. You have to reach quarterly projections. Even if you’re in the black, if you don’t reach the projection the shareholders will react accordingly.

      So, to avoid missing their next quarter, they will enshittify to meet shareholder demands. And it may work, for a while. But it will continually drain their userbase to nothing.

  • Rediphile@lemmy.caEnglish
    0·
    2 years ago

    Well yeah, I’m probably not the only daily active user who stopped visiting all together… after 10+ years of daily active use. They brought them on themselves.

  • jaschen@lemmynsfw.comEnglish
    0·
    2 years ago

    The company I work for spends ads on social media companies for ransomware protection and reddit spend is regularly negative. That means we spend more money on advertising than we do in income. We only do it to maintain some market share but otherwise it’s just a pure loss on that platform.

  • g0nz0li0@lemmy.worldEnglish
    0·
    2 years ago

    It’s such bullshit, Reddit could have been so much more. Researching my latest purchase/obsession, and the only way to find anything that isn’t corporate sponsored reviews or AI content farming is to add the word “Reddit” to the end of the search.

    As someone with an 11 year old account that I deleted during the TPA debacle, I fully recognise that there’s a huge problem here. Reddit created a place where people wanted to put their thoughts, ideas, and opinions, and now that they are cashing out TOO FUCKING BAD LAME EBD USER.

    Edit: /oblig fuck you spez. Slimy little arsehole sold everyone out and thinks he deserves to be rich because his shitty site isn’t absolutely irredeemable.

    • return2ozma@lemmy.worldOPEnglish
      0·
      2 years ago

      11 year old account on Reddit too and I left it during TPA too. Had nearly 2 million karma. Same username as this one.

  • SuperSpruce@lemmy.zipEnglish
    0·
    2 years ago

    Remember, the reason I ditched Reddit wasn’t the ads per se, it was the constant data selling, and the official app just getting worse and worse with unwanted “features” pushed on everyone. They kept getting greedier and greedier so when they disabled 3rd party apps I ditched Reddit.

    • Pengilly@lemm.eeEnglish
      0·
      2 years ago

      I mainly lurked on the art and fanfic forums, and considered getting an account when I had the time/had created something worth sharing on there. But when I learned about the disabling of apps to improve accessibility…I started looking for alternatives.

      Plus, I don’t like the idea of the karma system on there. Supposedly, it reduces the number of trolls and low effort posts, but I’ve seen it cause people to post ragebait to karma farm on subreddits that reward you with upvotes for making up outrageous stories. I’ve also seen “debate” subreddits where people downvote people who make good points, but disagree with. Then those people leave, not wanting to be punished on other subreddits that require a high amount of karma to post, leading to “debate” subreddits that are laughably one-sided.

      • SuperSpruce@lemmy.zipEnglish
        0·
        2 years ago

        I actively participated in Reddit before the killing of the Third Party Apps, because I really liked the content and the platform was a superb experience on a third party app.