Now the social media platform is aiming for an IPO in the first quarter of 2024 with a valuation of $15 billion, and has been in talks with potential investors like Goldman Sachs and and Morgan Stanley, per Bloomberg.
Now the social media platform is aiming for an IPO in the first quarter of 2024 with a valuation of $15 billion, and has been in talks with potential investors like Goldman Sachs and and Morgan Stanley, per Bloomberg.
I think there are a lot of extreme measures that would theoretically increase its profitability that they have not yet taken, most of which I have to assume are in the cards in the foreseeable future.
Most of them are, of course, measures that would severely impact user experience in a very negative way, but it’s clear at this point that they are drunk on hubris and believe users will stay no matter what.
They only have to be profitable long enough to sell their bags.
That’s true, I have to imagine a significant amount of the people driving the push for the IPO are only doing so to drive value up, cash out and vanish
Users will stay no matter what. When was the last time you saw meaningful exodus off a major platform? The Reddit to Lemmy, or Twitter to Mastodon migrations were the largest in decades and they had almost zero impact on the number of visitors to the origin sites. The days of Digg to Reddit are gone. Average users don’t have the patience or attention span to build communities anymore, especially not when whatever they build will eventually be heavily monetized, changed beyond recognition, and generally enshitified.