A lot of Redditors hate the Reddit IPO

Reddit’s Initial Public Offering (IPO) has been met with significant dissatisfaction from its user base.
Core issues revolve around Reddit’s historical lack of profitability, potential impact on the platform’s culture and operations, and implications for the Reddit community.
Reddit disclosed a net loss of $90.8 million in 2023 despite a revenue growth of approximately 21%.
The Reddit community fears increased advertising, introduction of fees for posting, and other measures to make the company profitable.
Reddit has offered shares to power users and moderators through a directed share program, but this move has been met with skepticism.
There is a widespread fear that the IPO could fundamentally alter the platform’s culture and operations in ways that could alienate its user base.
Concerns include potential for increased censorship and content filtering, commercialization of the platform, and susceptibility to market pressures and investor demands.