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Reddit S1
- ortusdux 3y agoDid this get flagged/deleted?
- simantel 3y agoIt must've been flagged initially, but I see it on the second page now.
- minimaxir 3y agoThe milestone timeline is oddly underwhelming. Both it and the letter from Steve Huffman emphasize the /r/WallStreetBets frenzy as evidence of Reddit popularity, which is ironic because a) it died out as quickly as it rose, as noted in Risk Factors and b) reminding the SEC that your platform was used for market manipulation in your S-1 is kinda funny. Funniest line: > Revenue from Reddit Gold and Collectible Avatars was not material for the years ended December 31, 2022 and 2023.
- CamelCaseName 3y agoI saw WSB hit 60,000 concurrent users watching the Nvidia earnings yesterday
- davien 3y agoThose numbers are inflated. I modded a smaller sub than WSB (still in the millions), went private during the API protests, and it consistently showed hundreds of CCUs when I was tooling with the sub.
- minimaxir 3y agoHuh, I just checked now and WSB does have more CCUs than I expected. (WSB has 38.0k CCUs, /r/pics has 36.3k CCUs) That makes zero intuitive sense.
- occamsrazorwit 3y agoWSB has more actual discussion, while people mostly see /r/pics on their feed (because it's a default subreddit) or scroll through really quickly (because it's easily-consumable content).
- deleted 3y ago[deleted]
- simantel 3y agoPulling out interesting numbers: Revenue: $666.7M in 2022, $804M in 2023 Gross margin: 84% in 2022, 86% in 2023 Net loss: $(158.6)M in 2022, $(90.8)M in 2023 DAUq: 57.5M in Q4 2022, 73.1M in Q4 2023
- simantel 3y agoIt looks like DAUq was flat or declining until Q3'21, then started ticking up, but really popped off in Q3 and Q4 of 2023 after they killed third-party clients.
- tempsy 3y agoDAUs seem less useful for an anonymous service like reddit. I have like 3 throwaway accounts and it takes 5 seconds to create a new one.
- simantel 3y agoYeah, they say as much in the risk factors when discussing potential issues with their metrics: "Moreover, a single person or organization may hold multiple accounts and may use more than one account to perform multiple views within a relevant period."
- ortusdux 3y agoReddit DM I just got: "Participating in Reddit’s Initial Public Offering (IPO) from reddit sent 11 minutes ago Hello, TL;DR: – you’re invited to a special program that lets redditors purchase stock at the same price as institutional investors when we IPO. Details about eligibility and next steps follow. This (long, dense) message has all the info we can provide due to legal restrictions. As you may have heard, Reddit has taken steps toward becoming a publicly traded company with the initial public filing of our registration statement with the U.S. Securities and Exchange Commission on February 22, 2024. Yes, it’s happening. And because you have helped make Reddit what it is today, you now have the opportunity to become Reddit owners at the same price as institutional investors. We’re offering a Directed Share Program (“DSP”) that invites eligible users and moderators who have contributed to Reddit to participate in our initial public offering (“IPO”). (Including you!)"
- CamelCaseName 3y agoAre you an active user? What was the cutoff threshold for this?
- ortusdux 3y agoSomewhat active. Could have something to do with my account being 15+ y/o as well.
- goles 3y agoThey discuss the Directed Shares Program on page 224. https://www.sec.gov/Archives/edgar/data/1713445/000162828024006294/reddits-1q423.htm#i70181091183849eaa50740c523e03e00_137525 https://www.sec.gov/Archives/edgar/data/1713445/000162828024... Briefly - Users & Moderators will be invited on 6 phased tiers. Accounts created on or before Jan 1st, 2024. T1 - Users identified by us who have made meaninful contribution to Reddit community programs. T2 - 200,000 Karma / 5,000 Mod actions T3 - 100,000 Karma / 2,500 Mod actions T4 - 50,000 Karma / 1,000 Mod actions T5 - 25,000 Karma / 500 Mod actions T6 - All eligible users Class A Common stock, # and % appears redacted.
- 3y ago
- avnfish 3y agoCEO total comp of $193m in 2023 is...quite something
- DeRock 3y agoFor a company that produced negative income, absolutely absurd. Why do investors put up with this? Is there truly no oversight? There is no way he provides value close to his compensation.
- xuancanh 3y agoHe is the co-founder, and he kept the company moving after a huge backlash against the previous CEO. He made some controversial (and bold) decisions like increasing the API price to block out third-party apps, but it seems to work? So yes, he somewhat deserves that compensation.
- treme 3y ago'bold' as in it was the obvious play after GPTs made reddit conversation archive an easy thing to profit off and protect
- andrewinardeer 3y ago$193 million is absurd remuneration no matter how glorious Dear Leader is.
- oliwarner 3y agoThey could have paid me $10m, given everyone a $50k bonus for the crap, and been profitable. CEO remuneration is out of control when somebody can perform such a beige list of acts and be treated like the Messiah. Mozilla is in the same boat. Such poor value for money.
- toomuchtodo 3y agoAt least when they’re public someone can buy a few shares to get standing and file a securities civil suit to attempt to rein it in.
- brrrrrm 3y agoAre there any Reddit alternatives these days? Something like HN but more slightly more casual (image/video embeds, subreddits)
- timdaub 3y agoI'm building an HN clone, and underpinning is a set reconciliation protocol. https://kiwinews.xyz https://kiwinews.xyz
- fsmv 3y agoLemmy is the main alternative that isn't computing topics only. The biggest server is https://lemmy.world https://lemmy.world.
- deleted 3y ago[deleted]
- r721 3y ago/r/RedditAlternatives/ list: https://old.reddit.com/r/RedditAlternatives/comments/1anols3/social_websites_with_nested_comments_v7/ https://old.reddit.com/r/RedditAlternatives/comments/1anols3...
- cft 3y ago4chan.org stacker.news
- CyberEldrich 3y agor/SomethingAwful is a private community First Reddit makes it private. Then Reddit bans the moderator. Then the sub is banned because there's no moderator.
- Arrath 3y agoSomethingAwful putters along under new ownership, with fairly decent moderation.
- djfrodo 3y ago
- ChrisArchitect 3y agoRelated: Expanding Our Partnership with Google https://news.ycombinator.com/item?id=39471317 https://news.ycombinator.com/item?id=39471317
- mindcandy 3y agoAm I reading this right? Revenue: $667m Total comp of 3 execs: $322m Income: ($90m) I might have a suggestion on how they can get out of the red. It's a wild one, I know. But, it just might work!
- Havoc 3y agoI was expecting this to be thin but not that thin. They list three pillars for financial. 1) Ads - which they've already done so priced in 2) Data - like the google deal they announced today with google for 60m. 3) User economy that includes "Commerce ecosystem" and brace yourself: >Reddit Avatars as non-fungible tokens on the blockchain; That really looks like an all-or-nothing bet on their dataset being valuable for AI and multiple recurring deals like google's resulting. It's certainly big & of reasonable quality, but at a minimum you'd need a way to neutralize the fact that most reddit interactions are antagonistic - users arguing & correcting each other...not necessarily traits you want a bot to learn
- artninja1988 3y agoGoogle really should not have paid reddit to train on reddits users data. This sets a dangerous precedent
- JayPalm 3y agoThey should have just bought the entire business for $3B. Would be chump change for them.
- deleted 3y ago[deleted]
- gotmedium 3y agoit feels i’m re-reading part of wework first S-1: “Similar to how cities are made from cement and steel, but are really built by their citizens, Reddit is made from code and algorithms, but is really built by our users” “We see a spirit of entrepreneurship among Redditors, who are constantly pushing the boundaries of what Reddit can be used for. To support their creativity, we are developing new ways to earn money on Reddit. We have enabled artistic users to earn millions creating avatars”
- heyoni 3y agoAs long as they’re not using third party apps and clicking multiple times per thread to expand the comments section by 3 new comments with a potential break for ads.
- Lammy 3y ago> Our approach to content moderation inherently subjects us to numerous risks, including that we may: [...] be unable to retain a sufficient number of volunteer moderators > Communities are created and led by Redditors who we call moderators, volunteers who are motivated by their passion for a given topic or idea. Moderators are not employees of Reddit. They do it for free
- sagman 3y agoExpect them to announce accounts requiring email/ phone associated with it and non-signed-in users having limited viewing capabilities. Also bye-bye old(.)reddit(.)com