Neither YouTube or Reddit fit the bill. Both of those companies were created in 2005 and then sold in 2006. I would argue that they were still in a user acquisition phase instead of trying to monetize their platforms. 5 years is a long time to run without figuring out how you are going to become profitable. Tumblr was created in 2007 and has a lot of smart people working there, why haven't they figured out how to make money in the past 6 years?
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Neither YouTube or Reddit fit the bill. Both of those companies were created in 2005 and then sold in 2006. I would argue that they were still in a user acquisition phase instead of trying to monetize their platforms. 5 years is a long time to run without figuring out how you are going to become profitable. Tumblr was created in 2007 and has a lot of smart people working there, why haven't they figured out how to make money in the past 6 years?