Sometime this month, Reddit will go public at a valuation of $6.5bn. Select Redditors were offered the chance to buy stock at the initial listing price, which it hasn’t announced yet but is expected to be in the range of $31-34 per share. Regardless of the actual price,
Recent big sites that closed down: Jezebel, Pitchfork, Vice, Popular Science, and my hopes for the Messenger were dashed when they announced their demise: https://thehill.com/homenews/media/4440773-news-startup-the-messenger-shutting-down/
LA Times and the like are hit with layoffs and – worse – Sinclair heavyweight added the Balitmore Sun to the list of ‘compromised’ media outlets: https://www.washingtonpost.com/style/media/2024/01/15/baltimore-sun-sold-david-smith-sinclair/
That said, there are always new sites, but gaining trust and reputation takes time.
Social sites seem doomed to crest and then fall. Digg? MySpace? Friendster? Who remembers the good old days of (moderated) UseNet? Do we want any of those back? Would any of them have remained were it not for spam/bad-actors?