Reddit isn’t profitable, despite having more than 50 million daily active users. In preparation for an IPO, CEO Steve Huffman put the platform’s API
Reddit isn’t profitable, despite having more than 50 million daily active users. In preparation for an IPO, CEO Steve Huffman put the platform’s API
…which they brought onto themselves. It was a pure text-based site, with multimedia resources hosted on third-party websites. The hosting for a such a site, especially if you’re using a database which supports compression, should be cheap as chips. By allowing multimedia storage without any solid plans for covering expenses and future growth, they bit off more than they could chew. Combined with greed, corporate apathy and a toxic work culture, it was a disaster waiting to happen.