How Will Reddit's IPO Change the Service?

'Reddit users have been reacting with deep gloom to the firm saying it plans to sell shares to the public...' the BBC recently reported:

The company has said its plans are 'exciting' and will offer the business opportunities for growth. However many users worry the move will fundamentally change the website... 'When the most important customers shift from [users] to shareholders, the product always [suffers],' said one person. 'It becomes 'what can we do this quarter to squeak out an additional point of revenue', instead of 'how can we make this product better'....'

[T]he company has recorded losses every year since its start, including more than $90m last year. In the filing, Reddit said it had not started trying to make money seriously until 2018. It reported $804m in revenue last year, up more than 20% from 2022. Advertising accounted for nearly all of the revenue, but in a note to prospective investors chief executive Steve Huffman said he was excited about opportunities to make the platform a venue for commerce and license its content to AI companies.

Read more of this story at Slashdot.