this post was submitted on 15 Jun 2023
278 points (100.0% liked)
Technology
37699 readers
272 users here now
A nice place to discuss rumors, happenings, innovations, and challenges in the technology sphere. We also welcome discussions on the intersections of technology and society. If it’s technological news or discussion of technology, it probably belongs here.
Remember the overriding ethos on Beehaw: Be(e) Nice. Each user you encounter here is a person, and should be treated with kindness (even if they’re wrong, or use a Linux distro you don’t like). Personal attacks will not be tolerated.
Subcommunities on Beehaw:
This community's icon was made by Aaron Schneider, under the CC-BY-NC-SA 4.0 license.
founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Reddit doesn't have any shares or shareholders currently.
Yup, fully aware. I guess what I was trying to say was that there is a way to get rid of a CEO - own a lot of the business.
The venture capitalists can if they have a majority of the shares. Since Reddit raised $1.3B, I wouldn't be surprised if the VCs own more than 50%. The only exception would be if those shares by the VCs are non voting, but I can't see a VC buying non voting shares.