So it has managed to keep going for 20 years not making a profit, and that's all of a sudden a problem? Presumably people and bills got paid in that time otherwise it wouldn't still be here? Is that how a company is actually meant to be run, for the benefit of the people who work for it, to get paid for a living?
Ah yes the shareholders, the ones that will now count the most. Because where there's profit to be had there's shareholders waiting to drive the business to even more growth so someone can get obscenely wealthy, just because. And thus the original aim of Reddit was lost, like many before it. In the name of greed. As per usual.