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Reddit Falls Short of Ad Growth Targets Ahead of Likely 2024 IPO

⁨1547⁩ ⁨likes⁩

Submitted ⁨⁨10⁩ ⁨months⁩ ago⁩ by ⁨return2ozma@lemmy.world⁩ to ⁨technology@lemmy.world⁩

https://www.theinformation.com/articles/reddit-falls-short-of-ad-growth-targets-ahead-of-likely-2024-ipo

source

Comments

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  • ClydapusGotwald@lemmy.world ⁨10⁩ ⁨months⁩ ago

    Good. After killing all third party apps the site started to suck more.

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  • FireTower@lemmy.world ⁨10⁩ ⁨months⁩ ago

    Reddit is going to be a prime short opportunity on IPO.

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    • friend_of_satan@lemmy.world ⁨10⁩ ⁨months⁩ ago

      No way I’d take that risk. The last thing I need is to give the investors money.

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    • wetnoodle@sopuli.xyz ⁨10⁩ ⁨months⁩ ago

      Biggest short squeeze since gamestop

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  • ahriboy@lemmy.dbzer0.com ⁨10⁩ ⁨months⁩ ago

    2024 is literally a year of leaving Reddit for Lemmy.

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    • tb_@lemmy.world ⁨10⁩ ⁨months⁩ ago

      Because 2023 wasn’t?

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      • spudwart@spudwart.com ⁨10⁩ ⁨months⁩ ago

        This will trigger an enshittification cycle.

          1. Underperformance per-quarter resulting in anti-user actions to increase profits.
          1. Users leave because of anti-user actions.
          1. Profits will decrease until the end of quarter.
          1. Return to Step 1.
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    • GardeningSadhu@lemm.ee ⁨10⁩ ⁨months⁩ ago

      i sure hope so, it’s time for the next great migration!

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  • MrCrankyBastard@lemmy.world ⁨10⁩ ⁨months⁩ ago

    Good. fuck’em.

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  • JeeBaiChow@lemmy.world ⁨10⁩ ⁨months⁩ ago

    Anyone here use reddit only for porn?

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    • MrCrankyBastard@lemmy.world ⁨10⁩ ⁨months⁩ ago

      Used tp use it tp voice porn (gonewildaudo).

      Obviously, spez fucked that up.

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      • Nima@lemmy.world ⁨10⁩ ⁨months⁩ ago

        I try to follow most asmr-nsfw content creators I enjoy on other platforms. But reddit is sadly where a lot of engagement happens.

        I absolutely avoid reddit at all costs, though.

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    • SkybreakerEngineer@lemmy.world ⁨10⁩ ⁨months⁩ ago

      The Internet is really really great…

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      • JeeBaiChow@lemmy.world ⁨10⁩ ⁨months⁩ ago

        For porn

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    • DBT@lemmy.world ⁨10⁩ ⁨months⁩ ago

      It’s not even good for that anymore. The only “source” that gets posted now is a preview link from the big studios. They’ve been fucking up NSFW Reddit for a while tho.

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    • thorbot@lemmy.world ⁨10⁩ ⁨months⁩ ago

      No. There’s literally the whole rest of the internet out there

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  • oDDmON@lemmy.world ⁨10⁩ ⁨months⁩ ago

    Spez, self styled content king, screwed by own outsized ego and underwhelming intellect.

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    • WHYAREWEALLCAPS@kbin.social ⁨10⁩ ⁨months⁩ ago

      So typical rich tech bro.

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  • onlinepersona@programming.dev ⁨10⁩ ⁨months⁩ ago

    Anyone got the full article? Falling short of growth targets doesn’t mean they made a negative. Hitting 4% growth instead of 5% is still pretty good for example.

    CC BY-NC-SA 4.0

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    • ExLisper@linux.community ⁨10⁩ ⁨months⁩ ago

      It’s in the article. They were aiming for 1B, grew 800m.

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      • Kbobabob@lemmy.world ⁨10⁩ ⁨months⁩ ago

        Which is kind of funny because it’s still a 4 out of 5 ratio.

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    • lud@lemm.ee ⁨10⁩ ⁨months⁩ ago

      Bruh, are you putting a licence on every single comment? Lol.

      What do you hope that will accomplish?

      Btw, don’t you actually have to say in the comment that the comment is licenced using “CC BY-NC-SA 4.0”? Just linking to it seems like it’s not enough.

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      • OfficerBribe@lemm.ee ⁨10⁩ ⁨months⁩ ago

        Falling short of growth targets doesn’t mean they made a negative. Hitting 4% growth instead of 5% is still pretty good for example.

        If you like this comment I made, feel free to tip me with PayPal.

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    • spudwart@spudwart.com ⁨10⁩ ⁨months⁩ ago

      Falling short of growth means their going to take aggressive action.

      This is typical traded-company bullshit. You have to reach quarterly projections. Even if you’re in the black, if you don’t reach the projection the shareholders will react accordingly.

      So, to avoid missing their next quarter, they will enshittify to meet shareholder demands. And it may work, for a while. But it will continually drain their userbase to nothing.

      source
    • MBM@lemmings.world ⁨10⁩ ⁨months⁩ ago

      Is that a CC license for your comment? I wonder if it actually works, legally, because I do like the idea that (for example) commercial LLMs wouldn’t be allowed to train on my comments.

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      • onlinepersona@programming.dev ⁨10⁩ ⁨months⁩ ago

        That is indeed a CC licenced comment for the exam reason you surmised 🙂 Made a post about it and others are skeptical, but it only “costs” me a Ctrl+V at the end of each post, so I’ll just continue doing it. Feel free to join

        CC BY-NC-SA 4.0

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  • manbeef@lemmy.whynotdrs.org ⁨10⁩ ⁨months⁩ ago

    Fuck Spez.

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  • DrGonzo@lemmynsfw.com ⁨10⁩ ⁨months⁩ ago

    Smoke a massive bag of dicks spez

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  • ObsidianZed@lemmy.world ⁨10⁩ ⁨months⁩ ago

    Since there’s a paywall, I can’t see the whole article but does this imply there was still positive ad growth and they just missed their goal or there was no or negative ad growth?

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    • khannie@lemmy.world ⁨10⁩ ⁨months⁩ ago

      20% growth to $800M

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      • wreckedcarzz@lemmy.world ⁨10⁩ ⁨months⁩ ago

        How unfortunately

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  • HootinNHollerin@slrpnk.net ⁨10⁩ ⁨months⁩ ago

    I’d rather not even see that cunts face

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  • stebo02@lemmy.dbzer0.com ⁨10⁩ ⁨months⁩ ago

    oh no! anyways…

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  • LemmyKnowsBest@lemmy.world ⁨10⁩ ⁨months⁩ ago

    that’s what they get for perma-banning all their loyal users.

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  • middlemanSI@lemmy.world ⁨10⁩ ⁨months⁩ ago

    Will nobody think of the infinite growth!?

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  • SwingingKoala@discuss.tchncs.de ⁨10⁩ ⁨months⁩ ago

    Who would have guessed…

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  • jaschen@lemmynsfw.com ⁨10⁩ ⁨months⁩ ago

    The company I work for spends ads on social media companies for ransomware protection and reddit spend is regularly negative. That means we spend more money on advertising than we do in income. We only do it to maintain some market share but otherwise it’s just a pure loss on that platform.

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    • WhyYesZoidberg@lemmy.world ⁨10⁩ ⁨months⁩ ago

      curious, ransomware insurance or what’s the product?

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      • jaschen@lemmynsfw.com ⁨10⁩ ⁨months⁩ ago

        Sorta both I guess. It’s mostly designed for recovery protection but on the off chance we can’t recover data, we pay out money if we can’t. I don’t think we would pay out if it’s stolen but they will were able to recover the data.

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    • ferralcat@monyet.cc ⁨10⁩ ⁨months⁩ ago

      Lots of companies spend more on ads than they make. It’s a growth strategy.

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      • jaschen@lemmynsfw.com ⁨10⁩ ⁨months⁩ ago

        Ya, the ROIs are terrible and when we stop our spend on reddit, our sales don’t decrease when we cut spend. At least for enterprise level SaaS products, it’s basically a donation to their company with no gains.

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  • kmirl@lemmy.world ⁨10⁩ ⁨months⁩ ago

    Thoughts and prayers… ;-)

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    • meep_launcher@lemm.ee ⁨10⁩ ⁨months⁩ ago

      Thots and players bb

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  • st3ph3n@kbin.social ⁨10⁩ ⁨months⁩ ago

    Mandatory Fuck Spez comment

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  • sebinspace@lemmy.world ⁨10⁩ ⁨months⁩ ago

    Remember when the IPO was supposed to be in 2021? Then it was 2022? 2023?

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    • VinnieFarsheds@lemmy.world ⁨10⁩ ⁨months⁩ ago

      Reddit IPO will always be next year, no matter which year we’re in at the moment.

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  • itsonlygeorge@reddthat.com ⁨10⁩ ⁨months⁩ ago

    Nobody saw this coming… /s

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  • spittingimage@lemmy.world ⁨10⁩ ⁨months⁩ ago

    Smoke a turd, spez. 😘

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  • suckmyspez@lemmy.world ⁨10⁩ ⁨months⁩ ago

    Lol

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  • Dehydrated@lemmy.world ⁨10⁩ ⁨months⁩ ago

    Fuck spez and his ad infested shit hole called Reddit

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  • billwashere@lemmy.world ⁨10⁩ ⁨months⁩ ago

    Good.

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  • unsaid0415@szmer.info ⁨10⁩ ⁨months⁩ ago

    Me at Reddit funeral peertube.stream/…/50518ff5-0884-4a44-b7df-39f7148…

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  • Binthinkin@kbin.social ⁨10⁩ ⁨months⁩ ago

    That place has become a reposting bot haven. The niche market is still hanging around but the main content drivers seem to be broken or gone.

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  • Silverseren@kbin.social ⁨10⁩ ⁨months⁩ ago

    I wonder how ad view counts are affected when you actively drive away your hard core content posting audience? Hmm...

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    • HactaiiMiju@lemmynsfw.com ⁨10⁩ ⁨months⁩ ago

      Third party apps didn’t show ads, so I guess ad views didn’t change that much after the blackout. They might even have gone up a bit with some users who started using the “official” ad-laced app.

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      • spearz@lemmy.world ⁨10⁩ ⁨months⁩ ago

        I would have stayed, and paid, to continue using 3rd party apps with an ad-free experience. Now, I don’t pay, or see ads, as I don’t go there at all. What a result.

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    • beebarfbadger@lemmy.world ⁨10⁩ ⁨months⁩ ago

      Well now that there are no good moderation tools left, they can finally embrace all the scammy bots.

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  • ivanafterall@kbin.social ⁨10⁩ ⁨months⁩ ago

    I need to figure out the details of shorting an IPO between now and TBD 2024.

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    • ricecake@sh.itjust.works ⁨10⁩ ⁨months⁩ ago

      You open a brokerage account and get margin approval.

      When it IPOs, you do a short sale at your brokerage.
      You get the cash for the sale immediately, and get charged interest for your brokerage “lending” you the shares you sold.
      Later, you buy the shares back or “buy to cover” and that makes you square with your brokerage.

      Hopefully the price went down enough so that the difference between what you sold at and bought at was greater than the interest you paid.

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      • cashews_best_nut@lemmy.world ⁨10⁩ ⁨months⁩ ago

        Can you provide some diagrams, audio description and a sniffing sample to aid in understanding what you just said?

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      • metaStatic@kbin.social ⁨10⁩ ⁨months⁩ ago

        not pictured: Real investors gamblers spiking the price to shake out small investors. Leverage has destroyed many people mere seconds before the market turns around.

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      • KevonLooney@lemm.ee ⁨10⁩ ⁨months⁩ ago

        They are not going to let a random retail investor naked short an IPO on the IPO day. There’s no way you will be able to exit your trade fast enough if it rockets up (in minutes). You actually need to tell the brokerage about your trading experience to be approved for riskier assets and trades.

        If you are approved, you will probably need to wait beyond the IPO date. It’s too volatile.

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    • Reverendender@sh.itjust.works ⁨10⁩ ⁨months⁩ ago

      I think you need to already have several million dollars, but my basis of knowledge is the film The Big Short

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    • IWantToFuckSpez@kbin.social ⁨10⁩ ⁨months⁩ ago

      Just write a custom Over-the-Counter option contract https://www.investopedia.com/terms/o/otcoptions.asp

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  • FartsWithAnAccent@lemmy.world ⁨10⁩ ⁨months⁩ ago

    Wow, they really spezzed up bad.

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  • TenderfootGungi@lemmy.world ⁨10⁩ ⁨months⁩ ago

    Those targets seem unrealistic even without driving off a core group of heavy users.

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