this post was submitted on 29 Nov 2023
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SNOOcalypse - document, discuss, and promote the downfall of Reddit.

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Reddit might once again be flirting with an IPO (techcrunch.com)
submitted 11 months ago by [email protected] to c/[email protected]
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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.

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[โ€“] [email protected] 21 points 11 months ago

I will watch their IPO with much interest. It can perhaps be a second source of schadenfreude for me after the Robinhood stock dropping below $10 per share.