On the day before the Reddit blackout began on June 12th, Similarweb logged more than 57 million daily visits to the platform.
On the day before the Reddit blackout began on June 12th, Similarweb logged more than 57 million daily visits to the platform.
A lot of companies have profit margins in the 10% range. A 15% drop in revenue could result in immediate loss of profitability.
For a company looking to make an IPO, this data does not look good at all. Especially because it was completely avoidable, they could have avoided this whole thing by just responding to developer concerns and just delaying the launch of fees for 6 months to allow devs to reduce calls and change their own monetization strategy. They could have avoided the worst of it by just not being total dickheads to literally everyone, getting caught in a lie and then doubling down on it and lying more.