• irotsoma@lemmy.world
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    7 months ago

    It’s all just rigged gambling. That money won’t benefit the company at all. The investors just sold all their stocks to the hedge funds and retirement funds for them to lose money on, like always. The IPO was just a way to pay off investors and let executives cash in their stocks. I’d love to know what restrictions on selling came with the stocks that were given to regular employees and users/mods. Like are they allowed to sell right away or do they have to hold it for some period of time?

    • Zippy@lemmy.world
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      7 months ago

      But about as democratic as can be. No one was forced to buy Reddit. Benefit or not to the company, the company was essentially sold. The new owners of their very own choice will want a return. A big return to essentially cover 8 billion they just paid for it.

      Reddit will need tens of billions in revenue to make the profits those new owners will demand. It is that drive to justify the cost that will make it another shitty bloated ad platform.