Because I'm not so sure that it's true. Reddit isn't massively profitable but it also doesn't have to lose a ton of money. IIRC they were able to run a much tighter ship and operate off of just Reddit Gold and ads for at least a decade before they started this recent hypergrowth phase
13 years ago, when I worked part time for them, it was about 5 people, with support being provided by Condé Nast peeps. This was right during the middle of the Digg v4 exodus to reddit. I remember when reddit got its billionth pageview month
