this post was submitted on 24 Feb 2024
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Reddit has never turned a profit in nearly 20 years, but filed to go public anyway (www.cnn.com)
submitted 8 months ago by L4s@lemmy.world to c/technology@lemmy.world
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Reddit has never turned a profit in nearly 20 years, but filed to go public anyway::Reddit, the message board site known for its chronically online userbase and for originating much internet discourse, filed for its long-anticipated initial public offering on Thursday.

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[–] RedEyeFlightControl@lemmy.world 81 points 8 months ago (2 children)

Perhaps if the ceo wasn't making like 200m a year, it would show some profits

[–] Lulzagna@lemmy.world 32 points 8 months ago* (last edited 8 months ago) (1 children)

Not to be that guy, but I think he makes 300k and was given 193m in stock options last year based on some whack evaluation.

Still an utterly insane number, hope they get crushed on the public market

[–] MataVatnik@lemmy.world 22 points 8 months ago (1 children)

He paid himself 193 mil because he knows its not going to be worth more than 1.93 mil after the IPO.

[–] Speculater@lemmy.world 3 points 8 months ago (1 children)

I've spent years watching IPOs, it's going to get pumped and then dump after a few months. Anyone shorting it after the first couple of weeks is going to lose their ass.

[–] MataVatnik@lemmy.world 1 points 8 months ago

I can't wait to see how this plays out

[–] ugjka@lemmy.world 17 points 8 months ago

Hollywood accounting tactics probably aswell