IPO = Initial Public Offering, where shareholders offer to sell their shares to the public, shifting a company from a “private company” (it belongs to me, you, and that guy) to a “public company” (it belongs to anyone who pays enough for the shares).
The userbase has been always touchy when it comes to IPO, and rightfully so; they know that the new owners will only care about squeezing the platform dry. As such, I predict a new flood of Redditfugees to Lemmy and Kbin.
Imagine investing in reddit, an actively hostile user base that will do anything to avoid ads and will completely bolt if you take the porn away.
They’ve already ran plenty of us off too. I used it for more than a decade. I miss good video subs though.
I’m waiting for peertube to get sorted, hopefully doesn’t take too long.
Think of the astroturfing opportunities!!
Once again? I thought they were already in the process of it. The API-change was just another piece of it.
They’ve been talking about IPO for a few years, but apparently this time it’s a bit more serious. Unless something happens that throws their valuation down the drain.
Again
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Hopefully! Last time reddit did shitty things to annoy their community lemmy wasn’t ready. We now have working apps, set up communities and have an active user base. We can take the refugees this time.
I joined here yesterday; figured I’d give this thing a try. So far I’m really liking the overall experience with Memmy in my phone.
The whole thing isn’t as active as Reddit, obviously. But the overall experience is quite nice. So uh, if Reddit bans a bunch of cool users, that’d be fine with me :D
I don’t think that it will, either. Give a golden eggs farm to vulture capital, and they’ll kill one gold-laying chicken after another to “reduce operational costs”, become “lean and mean”, or crap like that.
You’d have to be nuts to invest in Reddit, given the current state of the platform.
- The the CEO admitting reddit is not profitable in its current state.
- The amount of media attention the API change protests have gotten. * The ever increasing amount of search engine links to removed content.
- Memelords already talking about shorting the stock into the ground if it goes public.
- Various scandals involving the CEO, with likely more to come.
- Little to no third-party developers willing to write new software that integrates with Reddit anymore because they are now seen as an unpredictable party.
There is no way any of this leads to significant growth. The user base that has stuck around is generally not interested in the things that make reddit reddit, being a community-driven and -moderated platform. And significant changes to how the platform works (thereby taking away the unique selling points) will put it into a position where there is no real advantage over using competing platforms. This will make binding new users to the platform a difficult task.
The only ones stupid enough to buy lots of reddit stock will have an incentive to change it and make it profitable. We’ve seen musk attempt this with Twitter and just look how that has worked out so far.
The worst part is that Spez will likely still get to cash out and fuck off while the platform dies and burns in his wake.
What are the Spez scandals?
What’s a reddit?
Some site that used to be relevant a long time ago, that now we watch die with morbid curiosity.
Fuck em.
Good more chance for Lemmy to grow!
I mean; we could always take reddit down the same way WallStreetBets took down GME… [/S] [NOT FINANCIAL ADVICE]
Just imagine the Superstonkers shorting Reddit to death.
Superstonk is so brainwashed by the mods that they would “naturally” (more like: any opinion other than that gets removed) start theorizing that Hedgefunds want to buy reddit only to shut down Superstonk. Just to highlight how bad the Superstonk mods are: The word “Lemmy” gets you autobanned
In related news, I’ve got a pile of human feces and used toilet paper for sale. There are trolling “jokes”, misogynistic rants, bot comments, and incel screeds written on the toilet paper. Any bidders?
0.01€/kg
After carefully processed and composted, that is pure gold for agriculture and soil recovery.
Have you considered an IPO of your toilet bin? You could get rich!
I long expected a sub to show up of people’s bathroom results. Never looked for it. Didn’t want it myself. But fully expected it.
This is the best summary I could come up with:
Bloomberg reported on Monday that Reddit “is holding talks with potential investors for an initial public offering.”
The San Francisco-based company, co-founded by Steve Huffman, Aaron Swartz and Alexis Ohanian in 2005, is considering going public as early as the first quarter, sources told Bloomberg.
In December of 2021, Reddit confidentially submitted a draft registration statement with the Securities and Exchange Commission to go public.
That move took place just months after Reddit had raked in a hefty $410 million financing led by Fidelity, valuing it at $10 billion.
Then, in January of 2022, Reddit had even gone as far as to tap Morgan Stanley and Goldman Sachs to work on the listing.
When contacted, a Reddit spokesperson told TechCrunch via email that the company is in a quiet period and cannot comment.
The original article contains 213 words, the summary contains 133 words. Saved 38%. I’m a bot and I’m open source!
When contacted, a Reddit spokesperson told TechCrunch via email that the company is in a quiet period and cannot comment.
What, like… the company has taken a vow of silence? The company has a sore throat from screaming all night at a Nickelback concert? The company partied way too hard last night and just wants a morning of 90s cartoons and an isotonic drink? What?
It’s an actual legal IPO thing:
https://www.investopedia.com/terms/q/quietperiod.asp
But I like your imagery better. Heh.
Let them waste their money. If you gave me the choice, I’d rather invest in FTX in late 2023 or Volkswagen in the middle of their emission scandle!
ironically investing between the middle and the end of a company crisis is a good idea if you are certain the company will come out in one piece at the end because the price is about as low as it will get due to the fresh outrage. Of course if the company goes under that’s a different story
Red Dit?
So?
Usually a precursor to enhanced enshittification
