Reddit trying to offload overpriced shares to users
https://www.wsj.com/finance/stocks/reddit-stock-ipo-buyers-users-58744446?st=nfik6fi8xbjjntm&reflink=desktopwebshare_permalink When you canβt IPO through institutional investors with an overvalued unprofitable company, offload those shares to your user base; the same users whose content is being sold to AI for $60m a year.
Yβall are a bunch of snarks lmao. The intention is purely good, but Redditors hate Reddit more than anything else - I understand Btw our company is doing fine, weβre hiring, and frankly I love it here
A bit rich coming from an employee of Credit Karma...a company whose whole premise is based on selling customer information to credit card companies who then spam with shitty offers. . Obviously no one can predict the market, but as ikfgbncv said Reddit is in a good place as a company and the fundamentals are solid for the long term. I don't think Steve is a good CEO, fwiw; but this is a pretty good move by Steve, and honestly comes from a principled position.
And they said karma farming with reposts was a useless waste of time. If only they allowed buying puts early too