this post was submitted on 08 Jun 2023
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This whole situation feels like a short term revenue grab. I bet shareholders are trying to inflate the numbers in order to cash out in the IPO.
Yeah. I think this is pretty much the accepted narrative. Kill the 3P apps -> Consolidate the user base -> Serve everyone adds -> Hopefully turn a profit -> Go public or sell the company -> Founders/Investors cash out and profit.
The collateral damage is that they risk killing the culture that makes Reddit a place people want to congregate.
This is likely the case. I'm sure we'll see an IPO this year or early next after they've pumped up numbers.