Unlike Meta and other, bigger tech peers, Reddit has managed to retain its identity as a non-corporate, free-spirited space. Aside from some advertising, the platform has changed little since its founding in 2005.Reddit CEO Steve Huffman needs to keep both investors and core users happy. “It is a different kind of tech company,” app developer Christian Selig told me.
Covering those fees for Apollo’s 1.5 million users will cost approximately US$20 million a year, Selig estimates. He says that’s unfeasible and will have no choice but to shut the app down. File Photo. Reddit would struggle to function without the huge army of volunteers who do the work of moderating comments and keeping communities in check. If he is to steer Reddit to a multibillion-dollar IPO, Huffman will need moderators to be on his side. Additional signs of dissent will chip away at Reddit’s value to investors.
Reddit hasn’t been the only tech company to see its IPO prospects diminish. Last year was the softest in nearly 15 years for IPOs, and there are a few major listings planned for this year.
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