Hardly Phyrrhic. "Noticeable in numbers" does not equate to even short-term financial damage, let alone harm to the longer-term financial outlook. Reddit Corporation won unambiguously, as expected by most reasonable observers.
If those numbers are to be believed, it ruined any chance of their IPO for a couple of years. It's hard to sweep 'we lost 20%+ MAUs because of a policy change' under the rug when users/impressions are the lifeblood of a social media site
I’d wager the interest rate hikes and increasing conservative decision making around acquisitions has a greater impact on pushing back the IPO.
Reddit killed off almost every third party app and had half of the site shut down for a few days, but still came out ahead with a site that’s still very active and with the bonus of pruning unpaid mods who would’ve been likely to disrupt the site again.
Reddit’s only realistic time to IPO was mid-pandemic.
The last moderator uprising killed the ceo (metaphorically speaking) so the latest one doesn’t seem to have done much in comparison. If they’ve stopped growing and started shrinking that’s bad, but ultimately there’s no replacement yet so don’t sign their death certificate.
