Reddit’s IPO and Truth Social’s imminent listing
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Last week’s Reddit IPO and the imminent listing of Donald Trump’s Truth Social brings us back to the previous decade when social media companies such as Meta, Twitter, Snapchat, and Pinterest went public from 2012 to 2019.
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But those tech giants have been facing slumping ad revenues, and even though Reddit’s sales are driven in similar ways, it has found other methods of leveraging its platform of user-generated content.
In preparation for its IPO, Reddit cut costs by laying off workers, charging third-party developers using its API, and inking a deal with Google worth $60 million a year for training AI models.
The Weekend Brief will look at how these IPOs are vastly different from those of the social media giants in the previous decade.
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