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by dawhizkid
2495 days ago
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It isn't right now, but if you buy at this valuation you're betting that they can diversify away from memberships as their main source of revenue to something more "techy." Personally I am bearish because I don't think they can hire the engineering talent to pull that off. They should've gone on a tech hiring spree long ago if that was their intention but I know of no prominent tech leaders who work there. |
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They've been hiring (and acquihiring) like mad in NYC for the entire year. They just took over the old Spotify office near Union Square as their new "tech HQ," and all of engineering sits there now.