this post was submitted on 23 Feb 2024
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Reddit Files to Go Public, Reveals That It Paid CEO $193 Million Last Year (www.thedailybeast.com)
submitted 8 months ago by L4s@lemmy.world to c/technology@lemmy.world
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Reddit Files to Go Public, Reveals That It Paid CEO $193 Million Last Year::Nineteen years since its founding, the social media site is finally going public.

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[–] gloss@discuss.tchncs.de 134 points 8 months ago (4 children)

Spez is an idiot who sold reddit to Conde Nast for peanuts, failed in very other start up he tried, and then came crawling back. And they somehow made him CEO. And he is overpaying himself by $193 million a year. Reddit deserves whatever happens to them.

[–] echodot@feddit.uk 30 points 8 months ago (2 children)

I don't get what as CEO he even actually does. When was the last time Reddit had any major update?

[–] Strawberry@lemmy.blahaj.zone 48 points 8 months ago (2 children)

well there was the update that removed the open api, and the update that made half the site require using the app

[–] ahal@lemmy.ca 17 points 8 months ago (1 children)

Don't forget the update to the privacy policy so they can sell more of your data

[–] SomethingBurger@jlai.lu 10 points 8 months ago (1 children)

Also the one time when spez updated someone's comment directly in the database.

[–] Dlayknee@lemmy.world 5 points 8 months ago

Pretty sure that was more than one time

[–] SSUPII@sopuli.xyz 10 points 8 months ago

And they removed awards replacing them with super upvotes

[–] force@lemmy.world 8 points 8 months ago

The CEO just influences PR decisions and says stupid stuff online, they don't actually do anything for the company

[–] index@sh.itjust.works 22 points 8 months ago (1 children)

Everyone who still use reddit is a bigger idiot than spez

[–] ours@lemmy.world 27 points 8 months ago

Try this: Reddit users are getting emails and messages inviting them to the IPO at "the same price as institutions". Imagine buying Reddit stock!

Gotta pay that 200 mil a year to the CEO somehow.

[–] bitwaba@lemmy.world 15 points 8 months ago (1 children)

Reddit deserves whatever happens to them.

Unless it's good.

[–] ripcord@lemmy.world 5 points 8 months ago

Like an IPO where they make an absolute shitton?

[–] sunbeam60@lemmy.one 5 points 8 months ago

The board is paying him $193m/year.