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This article understates how big the content discovery problem was on the web, at those times. Delicious, Digg, Stumbleupon, Reddit and a million others. Reddi
by relaunched 2y ago
This article understates how big the content discovery problem was on the web, at those times. Delicious, Digg, Stumbleupon, Reddit and a million others.
Reddit is the Craigslist of content discovery, in so many ways.
- zachmu 2y agoExcept craigslist makes a ton of money
- bink 2y agoReddit had $900 million in revenue last year.
- rm_-rf_slash 2y agoKid named opex
- okwhateverdude 2y agoBut how much profit? And how much of that revenue was spent on spez's comp?
- frankdenbow 2y agoAppears to be about $341k ""A Securities and Exchange Commission filing said Huffman in 2023 got a salary of $341,346, which is relatively low for a CEO of a major public corporation. In February, this was raised to $550,000. He also got a $792,000 bonus last year based on Reddit's user numbers, revenue, and a type of profitability known as adjusted EBITDA that excludes certain expenses." "The bulk of his compensation package is now in restricted stock units and stock options. A lot of this compensation is based on Huffman staying at Reddit through late 2028, and some is triggered by completing Reddit's initial public offering, the SEC filing said. Half of the stock options vest at $25.29, a relatively easy bar to reach. The other half vest only if Reddit shares reach $45, $60, and $90 in public-market trading over 10 years, the SEC filing says — that's a higher bar and aligns the CEO's interests with shareholders."
- jtriangle 2y agoThey lost around 90 million dollars.
- testacpwoek 2y agoAnd yet Craig Newmark is a billionaire and the owners of Reddit aren't. $900 million in revenue means nothing if you jettison it into the stratosphere.