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 10 months ago by [email protected] to c/[email protected]
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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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[–] [email protected] 81 points 10 months ago (2 children)

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

[–] [email protected] 32 points 10 months ago* (last edited 10 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 10 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 10 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 10 months ago

I can't wait to see how this plays out

[–] [email protected] 17 points 10 months ago

Hollywood accounting tactics probably aswell