this post was submitted on 05 Aug 2023
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Nobody cares though. The reddit administration has dethroned their own site, it will never gain that back. They're done, even if the site hangs around like a bad smell for a few more years.
Maybe they 'won', but I don't count a pyrrhic victory as winning. It will take years to recover.
They won't recover.
I would desperately love to know what they estimated the IPO at before and after this whole mess.
Is also worth remembering that the person doing the estimate was insane. Even before all of the process the site was never worth the four billion dollars or whatever the hell that stupid number was.
The site was massively valued because of the user data not for the site itself now that a lot of the user data is gone and not a lot of new user data is being generated the site is less valuable. The websites still exists of course but that was never the valuable bit of it.