Where Reddit differs among its tech peers is in its striking dependence on its user base to keep things operational. Reddit must keep its users satisfied and its efforts to expand its limited (and already unpopular) advertising formats could send users packing. 98% of Reddit’s revenue is made up of advertising income. And of that, 26% came from just 10 ad clients in 2023. Investors will be watching this closely and expect more diversity sooner rather than later
But from a CEO perspective it doesn’t matter. Highly successful IPO, huge bonus, retirement. Sadly that’s how modern gambling works, hike share prices, cash out.
Dude reportedly made 193 million $ last year. By this point he must have enough money safed up, that he could spend a million every year for the rest of his life.
It is never enough to feed his voracious appetites. He craves power, and he’s trying to win like Elon Musk (ignoring how the latter is nowhere close to “winning”).