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Joined 1 year ago
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Cake day: June 9th, 2023

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  • Profitable is probably a big word here, but they were surviving and without any real ambitions, not a lot of money was necessary. Originally, the Reddit gold awards seemed to be enough for them to pay for server usage and the handful of developers/admins.

    However, the last couple of years things felt like they were changing behind the scenes. More investors were attracted and growth became an objective. The low interest rates indeed meant a lot of money was available and that investors wanted more growth as there were plenty of alternatives that WERE growing. If your growth is/was disappointing, you’d lose the investors as they would go elsewhere. The current situation is likely just the tail end of that process.