this post was submitted on 20 Mar 2024
112 points (88.4% liked)

Technology

70994 readers
3323 users here now

This is a most excellent place for technology news and articles.


Our Rules


  1. Follow the lemmy.world rules.
  2. Only tech related news or articles.
  3. Be excellent to each other!
  4. Mod approved content bots can post up to 10 articles per day.
  5. Threads asking for personal tech support may be deleted.
  6. Politics threads may be removed.
  7. No memes allowed as posts, OK to post as comments.
  8. Only approved bots from the list below, this includes using AI responses and summaries. To ask if your bot can be added please contact a mod.
  9. Check for duplicates before posting, duplicates may be removed
  10. Accounts 7 days and younger will have their posts automatically removed.

Approved Bots


founded 2 years ago
MODERATORS
 

Get your shorts ready, this will be very interesting to follow. Seems like the stock will appear tomorrow already?

I fully expect a nosedive in stock price but who knows. Maybe a pump and dump.

you are viewing a single comment's thread
view the rest of the comments
[–] ColeSloth@discuss.tchncs.de 2 points 1 year ago (2 children)

They're making money. It's just not a really high amount.

[–] mark3748@sh.itjust.works 5 points 1 year ago

It’s quite literally in the disclosures and the article you are commenting on. They lost $151MM in 2022 and $90MM in 2023.

[–] rambaroo@lemmynsfw.com 4 points 1 year ago (1 children)

Source? All the ones I can find say they're still losing money. 800M in revenue but 940M in expenses for 2023. https://www.marketwatch.com/amp/story/reddits-ipo-raises-questions-about-profitability-heres-how-it-makes-money-01f73f04

[–] Cogency@lemmy.world 4 points 1 year ago* (last edited 1 year ago) (1 children)
[–] admin@lemmy.my-box.dev 2 points 1 year ago

According to that link, his salary was "only" half a million. Or does he get 193 million in stock each year?