Depending on volunteers is not sustainable, given the regulatory scrutiny that the company will now face, said Julian Klymochko, CEO of alternative investment solutions firm Accelerate Financial Technologies.

“It’s like relying on unpaid labor when the company has nearly a billion dollars in revenue,” he added. Reddit reported revenue of $804 million in 2023, according to an earlier filing.

  • LallyLuckFarm@beehaw.org
    73·
    9 months ago

    The newly listed company warned in its initial public offering (IPO) paperwork that its unique approach to content moderation can sometimes subject it to disruptions like in 2023, when several moderators protested against its decision to charge third-party app developers

    I seem to recall over 8000 subs going dark but sure, just a handful of people protested.

    • spider@lemmy.nzOP
      5·
      9 months ago

      eu·phe·mism

      noun

      a mild or indirect word or expression substituted for one considered to be too harsh or blunt when referring to something unpleasant or embarrassing.

      • LallyLuckFarm@beehaw.org
        7·
        9 months ago

        Inappropriate for a wire service/po•tah•to. Reuters has little value to me if non factual statements are not attributed as quotes.

        • spider@lemmy.nzOP
          3·
          9 months ago

          when referring to something unpleasant or embarrassing.

          I probably should’ve put this part in bold.