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Reddit is raising a huge round near a $3B valuation

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Re: Reddit is raising a huge round near a $3B valuation

#41

Post by charlesdm »

Someone1234 wrote: post #31
YeahSureWhyNot wrote: post #15

last round was 200 million in July of 2017. if we assume they had around 30 million left of it in bank today that puts them in 10 million negative every month. how does an online community/discussion website that makes money from ads and with not a lot of staff and no other expenses lose 10 million per month? when are they going to become profitable and how? Is it just a tax write off thingy? I never understood these…

Reddit has 230 staff (as of July 2017). edit (removed wrong maths): $1.9m per month in staffing costs @ 230 employees/100K each. Although a reply below says the staff may have almost doubled and $100K may be a low guestimate for the area (inc. benefits, etc). My question would be: Why does Reddit have 230+ staff? What do most of them do?

Didn't they have like one or two developers just a few years ago? Or am I remembering this wrong?

Re: Reddit is raising a huge round near a $3B valuation

#42

Post by kbenson »

collyw wrote: post #21
brettgriffin wrote: post #5

I've given up most social media but have become obsessed with Reddit. No matter how much I use it, I'm constantly amazed that I can be immediately connected with the most knowledgeable and enthusiastic people on virtually any subject I care about. I'm not a fan of the redesign or their push to look at other social media platforms, but I understand the direction they have to go to build revenue.

> I can be immediately connected with the most knowledgeable and enthusiastic people on virtually any subject I care about. Politics on Reddit seems to fall into either The_Donald or "Orange man bad" with very little objectivity in the middle in my experience.

For all the good and enjoyment I get out of Reddit, sometimes it seems like it's just various angry mobs that coalesce and split as needed to maximize the amount of angry voices present at any one time for any one topic.

Re: Reddit is raising a huge round near a $3B valuation

#43

Post by justwalt »

EnFinlay wrote: post #2

Fun, I deleted my 9 year old account last night. It's wasn't out of some high-minded thing about how they're turning more into Facebook or privacy or anything. That site just hits my dopamine so effectively I had to quit and block it in my /etc/hosts. I am spending more time on HN though...

Same. I haven’t deleted my account but I haven’t browsed the site in over a month. I’m far more productive now.

I had started off by trying to unsubscribe from the subreddits that were mainly image based. This didn’t really make much difference as my sub list was already too saturated, and I would scroll further to find the quick attention satiation. Eventually I realized it wasn’t worth the trouble.

HN is different though, there’s far less clickbait and no thumbnails. I regularly read articles that I feel teach me about important or very interesting topics. It’s pretty rare that I would read an article in full from Reddit. HN comments are often filled with valuable insights that I think will benefit me in the future, and jokes are fairly uncommon. I’ve been more and more frustrated with the low effort Reddit jokes over time.

Sure, the concept is the same between the two sites, but I think my frame of mind is very different when I browse either site. I don’t see myself needing to cut HN out as I did Reddit because it doesn’t have the same effect. HN is meat and veggies and Reddit is candy. Or a dopamine drip.

Re: Reddit is raising a huge round near a $3B valuation

#45

Post by ppod »

minimaxir wrote: post #16

I've been a fan of Reddit for a very long time (as the amount of data science work I've done with their data can attest to), but lately it seems like the incentives between Reddit as a business and Reddit as a community leader are not aligned, and that is a problem. The increasing amount of dark patterns Reddit has been employing lately is concerning. (recent example: Reddit now gates content in mobile Safari to push…

I've always thought that the day they crossed the line was when they arbitrarily changed which subreddits were default, removing some (such as /r/atheism) with no real reason. At the very early days of reddit, discussing atheism positively was still kind of unusual in the news. Then, over time, it became a very popular position and advocacy case especially among developers, and new users found the stridency and repetition of the subreddit annoying. I think they ultimately took the decision to remove a default subreddit that supported a community that is in general still one of the most hated in the US and in the world, just in order to appeal to new users outside of the hacker culture demographic that reddit started in.

Re: Reddit is raising a huge round near a $3B valuation

#46

Post by marknadal »

minimaxir wrote: post #16

I've been a fan of Reddit for a very long time (as the amount of data science work I've done with their data can attest to), but lately it seems like the incentives between Reddit as a business and Reddit as a community leader are not aligned, and that is a problem. The increasing amount of dark patterns Reddit has been employing lately is concerning. (recent example: Reddit now gates content in mobile Safari to push…

Max, would you be willing to evaluate Reddit alternatives? One is https://notabug.io/ after the Aaron Swarz quote, has seen hypergrowth since it started a few months ago using our P2P tech.

Re: Reddit is raising a huge round near a $3B valuation

#47

Post by tyingq »

minimaxir wrote: post #16

I've been a fan of Reddit for a very long time (as the amount of data science work I've done with their data can attest to), but lately it seems like the incentives between Reddit as a business and Reddit as a community leader are not aligned, and that is a problem. The increasing amount of dark patterns Reddit has been employing lately is concerning. (recent example: Reddit now gates content in mobile Safari to push…

Would help if they dumped the AMP pages too. Landing there results in a useless "not logged in" and "partial content" page. AMP is just a terrible fit for Reddit pages.

Re: Reddit is raising a huge round near a $3B valuation

#50

Post by komali2 »

collyw wrote: post #21
brettgriffin wrote: post #5

I've given up most social media but have become obsessed with Reddit. No matter how much I use it, I'm constantly amazed that I can be immediately connected with the most knowledgeable and enthusiastic people on virtually any subject I care about. I'm not a fan of the redesign or their push to look at other social media platforms, but I understand the direction they have to go to build revenue.

> I can be immediately connected with the most knowledgeable and enthusiastic people on virtually any subject I care about. Politics on Reddit seems to fall into either The_Donald or "Orange man bad" with very little objectivity in the middle in my experience.

Leave subreddits that are just as lousy with shills as Twitter, there are subs for a decent political conversation (at least, as decent as is possible in 2019).
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