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nicholas 🧨
@nicholas
Anyone who read the Reddit S1, why does it cost $891MM to run reddit?
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@risk
@risk
I don't see that figure? In FY23 they declared $944M in Costs and Expenses.
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nicholas 🧨
@nicholas
i assumed based on the headlines of 800M revenue and 91M losses
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@risk
@risk
It cost them about $111M to generate that revenue. The rest of their expenses went into R&D ($438M), S&G, and G&A. The $111M was due mostly to hosting costs. They spend a ton on stock-based compensation. That's a bit of a surprise.
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requiem
@requiemsolana
What were they spending the R&D money on, making the mobile app as bad as possible?
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