Social network Reddit recently began blocking mobile visitors to its website while pushing them to download the official Reddit app, and it's fair to say that the move is not going down well with users. If you visit reddit.com on your iPhone today, you may see a new popup that can't be dismissed, asking you to "get the app to keep using Reddit".
They are failing and they know it. You talk about money, but the rest of us talk about legacy and longevity. Reddit is dying.
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Objectively their business is doing well. Their social network is clearly dropping off like most others. Real people are posting much less across the board, Reddit is turning into a passive AI fueled entertainment platform.