Wait. Why is Reddit losing so much money?
www.businessinsider.com
Reddit kind of anticipates this critique in its investor docs, and argues that it didn't really start operating as a serious business until 2018 when it finally started "meaningful monetization efforts" — that is, trying to make money for real.
But that's still six years ago. What has Reddit been doing since then?
One big, obvious answer: It has been hiring a lot of engineers and spending a lot of money on their salaries...
...What am I missing? I asked Reddit comms for comment but they declined, citing the company's quiet period before the IPO.
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