this post was submitted on 24 Feb 2024
537 points (97.5% liked)

Technology

59646 readers
2609 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 content.
  3. Be excellent to each another!
  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, to ask if your bot can be added please contact us.
  9. Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago
MODERATORS
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
537
Reddit has never turned a profit in nearly 20 years, but filed to go public anyway (www.cnn.com)
submitted 9 months ago by [email protected] to c/[email protected]
67 comments fedilink hide all child comments
 

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.

you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 81 points 9 months ago (2 children)

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

[–] [email protected] 32 points 9 months ago* (last edited 9 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

[–] [email protected] 22 points 9 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.

[–] [email protected] 3 points 9 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.

[–] [email protected] 1 points 9 months ago

I can't wait to see how this plays out

[–] [email protected] 17 points 9 months ago

Hollywood accounting tactics probably aswell