Reddit, the eighth-most popular website on the Internet, is reportedly considering an IPO. As a site valued at over 1.8 billion dollars, this is great news for the company itself – but how much of Reddit will remain if the IPO goes through?
Reddit’s history is steeped in controversy, from minor incidents such as invasion of privacy and a few creepily quirky community members to allegations of child pornography and egregious hate speech. While Reddit’s policy has allowed it to tighten posting restrictions regarding the latter two, the fact remains that Reddit – for all its usefulness – is viewed by many as a ticking time bomb.
An IPO would certainly lend back to Reddit a degree of credibility not seen since its inception, but the problem is that Reddit itself (the haven of free speech and original content that made it so popular in the first place) might not survive the offering. Given the platform’s controversial past, many believe it likely that stakeholders would move to tighten further the restrictions on the platform, ultimately ending a significant era in Reddit’s history.
The platform’s developers’ dedication to free speech and truth-seeking is what makes Reddit so fantastic, and that’s not liable to change – it’s the most marketable aspect of the site, after all – but perhaps the rationale behind going public lies in a sense of duty rather than routine. 2017 has seen some of the most reprehensible instances of false reporting and deliberate misguidance in recent history; maybe Reddit’s team feels that they can provide a stable news platform at the cost of some personality.
At any rate, the IPO itself isn’t set in stone, and is unlikely to take place for quite some time. As the situation develops, it will be interesting to see if Reddit embraces its past, or sheds it altogether.