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https://seekingalpha.com/article/4477033-reddit-unprofitable-despite-growth
Nevertheless, like many IPOs, Reddit remains unprofitable. The question for investors is whether Reddit can achieve minimum viable economies of scale and achieve profitability. So far, there are no indications that this will happen.
There are few other sources that say reddit is unprofitale.
That happens all the time with publicly traded companies. This is the reason why we had the dotcom bubble burst in the last 1990s.