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Valuation of $5 billion would buy P/S 6.3 with negative P/E for 18 year old non-innovating company that is already in the second phase of enshittification.
Edit: cfo -> coo
It could have been extremely valuable, but at this point management has been clearly outed as having no idea what they are doing.
Earlier quoted context omitted.
It would be really surprising given that all of the data up to 2020 is already out there. They made a deal to give a firehose of data to an ai company and it was only for 60 million.
Yep. I don’t see how this is worth billions either but that seems to be the play.
More discussion on the official S1: https://news.ycombinator.com/item?id=39472782
$5B is definitely a lot more realistic than the $15B valuation they were targeting in 2022, but IMO Reddit is still not a sustainable business as it stands today. So many investors have had their money tied up for over a decade will little to no growth and are going to be scrambling for an exit on IPO day. Revenues are barely growing, losses are increasing. I don't see a rosy future for this stock.
$5B is definitely a lot more realistic than the $15B valuation they were targeting in 2022, but IMO Reddit is still not a sustainable business as it stands today. So many investors have had their money tied up for over a decade will little to no growth and are going to be scrambling for an exit on IPO day. Revenues are barely growing, losses are increasing. I don't see a rosy future for this stock.
Unlikely sustainable without innovations. A payday for stakeholders and then popular-brand bagholders magnet, possibly a buy-rumor-sell-before-quarterly-report playtoy. I wouldn't expect UX increase and the question is how long the enshittification-revenue balance will be kept steady.
Well, that and the API changes that drove away something like a third of the users.
$5B is definitely a lot more realistic than the $15B valuation they were targeting in 2022, but IMO Reddit is still not a sustainable business as it stands today. So many investors have had their money tied up for over a decade will little to no growth and are going to be scrambling for an exit on IPO day. Revenues are barely growing, losses are increasing. I don't see a rosy future for this stock.
The only thing that really has value at Reddit right now seems to be their giant archive of user generated posts. It is certainly going to be interesting come IPO day.
They had a free dataset containing data up to 2020: https://www.reddit.com/r/bigquery/comments/kyjqbt/there_used... Reddit is 90% noise, a lot of the content is going to be "meme reply" type comments, to topics posted by karma bots.
Earlier quoted context omitted.
They might still pull it off anyway with their data play given AI hype And by pull it off I mean original investors get out and someone else is left holding bag
It would be really surprising given that all of the data up to 2020 is already out there. They made a deal to give a firehose of data to an ai company and it was only for 60 million.
Earlier quoted context omitted.
Yep. I don’t see how this is worth billions either but that seems to be the play.
Google might want their post 2020 data to lobotomize the next generation of Gemini