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

Technology

59207 readers
2939 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]
540
Reddit has never turned a profit in nearly 20 years, but filed to go public anyway (www.cnn.com)
submitted 8 months ago by [email protected] to c/[email protected]
68 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] 10 points 8 months ago* (last edited 6 months ago) (1 children)

deleted by creator

[–] [email protected] 5 points 8 months ago (1 children)

Why on earth would they give those sweet pre-IPO shares up to the unwashed masses if they thought there was even a remote chance the IPO would at least break even?

I suspect it's because they're worried that their users are going to short them and encourage others to do the same, so they're trying to get them involved and committed. They don't want WSB causing shit. My guess is that the share prices will do pretty well, at least initially. There are plenty of ignorant investors who want to get in on the next big tech stock. Just a guess though, I don't know enough about this stuff to invest in stocks myself.

[–] [email protected] 1 points 8 months ago* (last edited 6 months ago)

deleted by creator