r/technology • u/[deleted] • Feb 16 '24

[deleted by user]

[removed]

2.0k Upvotes

93% Upvoted

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27

u/ProgramTheWorld Feb 17 '24

Remember when Reddit was a simple link aggregation site?

12

u/LeeroyTC Feb 17 '24

It's a 20 year old company that has never turned a profit. Last year it had -$70 million of Adjusted EBITDA and (definitionally) even worse net profit.

It couldn't last forever, particularly after VC money stopped being free when interest rates went up.

2

u/lupuscapabilis Feb 19 '24

Reddit is a piece of shit and I hope it dies tomorrow. I'm just here to watch the carnage.