this post was submitted on 24 Feb 2024
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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]
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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.

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[–] [email protected] 11 points 8 months ago* (last edited 6 months ago) (1 children)

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[–] [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] 2 points 8 months ago* (last edited 6 months ago)

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