I can’t wrap my head around this, it seems so bizarre. The only reason I’m here now is because I joined Apollo right after Reddit changed its app to remove the sort by rising feature. It completely changed my experience on the app for the worse and I sought out an alternative, and I know I’m not the only one that had this complaint. I was a faithful Reddit user/poster on the official app for 6 years until just a few months ago. Why would they make their app less user friendly a few months before announcing the crazy API changes. They drove me away from their app and then drove me away from the site altogether.
Anyone have any thoughts on this? It just makes no sense to me
IMO there is nearly no chance that they are profitable, given how hard they scaled up hiring after getting that fidelity funding in 2021. They were massively overvalued and I’m surprised Fidelity only cut their valuation by 40%.
I can’t imagine what they’ve done that would have actually brought in revenue. Ads and awards sure, but new reddit, the 1p app, etc are all garbage. Revenue per employee must be in the shitter.