• MysticKetchup@lemmy.world
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    4 months ago

    Even after Automattic acquired it, the site continued to lose money at a rate of $30 million each year, the company’s CEO Matt Mullenweg had said.

    I still wanna know what they’re spending all that money on, because I’m sure it’s not developers or even servers. The idea that they can only be profitable if they’re constantly growing their user numbers is an investor idea that’s doomed to fail eventually and why so many social media sites are crashing right now