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In unsurprising news, Reddit prepares IPO (www.businessinsider.com)

submitted 10 months ago by [email protected] to c/[email protected]

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Now the social media platform is aiming for an IPO in the first quarter of 2024 with a valuation of $15 billion, and has been in talks with potential investors like Goldman Sachs and and Morgan Stanley, per Bloomberg.

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[–] [email protected] 38 points 10 months ago (3 children)

Hope it fails and Steve Huffman gets fired

[–] [email protected] 16 points 10 months ago (1 children)

He has zero interest in Reddit past the IPO. Even if it bombs, he's gonna make a fortune. If it sells for 1% of that 15 billion valuation it'll have grown 15x in value since it was sold in the 2000s.

He's no longer a 50 percent owner, but he's going to do well in this no matter what, and will never need to work another day in his life.

[–] [email protected] 3 points 10 months ago

Does he even need to work now?

[–] [email protected] 3 points 10 months ago

If the IPO succeeds reddit will turn into a trash can even faster.

[–] [email protected] 0 points 10 months ago

I would probably get way richer after so I don't think he would care too much.