Reddit wants to raise $748M with IPO, sets value at $6.4B

Great marketing for an IPO ...... we need enough money to equal three times what our CEO gets

Watch as he burns through it in one:-).

Also, bold of us to assume that he has not already spent it:-P.

It's in the form of stock options, which won't be worth any particularly noteworthy amount unless the IPO goes really well.

I report them as spam.
Its nothing i signed up for, and consider it marketing. And there is no unsubscribe link in the email, and its from an unmonitored inbox.
That makes it spam, and i hope it trashes their mailer IP's reputation

It's almost certainly going to do well enough that the VCs and insiders will be able to cash out. The founders will be centi-millionaires. But, people who buy in at the IPO price, I wouldn't be surprised if they lose a lot of money.

Reddit’s IPO is a fucking clown car headed toward a cliff

I hope it makes a funny noise when they hit the ground

The best part is that this whole thing is about having the "opportunity" to purchase reddit stock at its IPO price. This user generated content farm wouldn't dare give away equity for free to users responsible for the site having any past, present, or future value.

I'm not a finance person, but the only gambling I'd do on this company is hope that Wall Street pumps the price post-IPO so I can short it.

My understanding is that the value of each reddit user is priced roughly at $2. A Facebook user is priced at roughly $40. Their only options to maybe be profitable are more enshittification, more users, or both. Or, you know, not paying hundreds of millions of dollars to the execs of an RSS feed with voting and comments.

I got offered a while ago and I had 1,500 link and 0.5M comment karma after a decade. I was never a moderator or did anything important. I can't imagine that was considered meaningfully contributed. At least I hope not.

As someone who was invited to that first group and told them to go fuck themselves, it's actually mostly people who have participated in reddit surveys and reddit mod meetups (where mods from a local area get blasted on Huffman's dime). Almost every mod that I know that went to one of these events got an invite and all of them gave similar answers to me.

Also, 200k karma isn't a ton. It likely places you in the top 1%, but most people don't participate anyways. I had over 300k (I think, I'm not checking) and maybe 1k was from a single post. Everything else was from the occasional comment

For the first group though they didn't actually bother to look into them. The 2 subs I ran have both been private since the last priest despite numerous warnings that I'd be removed if I didn't make them public. And my subs participated in numerous protests before then.

Still a mod on there all this time later!

I'd laugh about this but then I remember that someone recently bought Yahoo for $5B

More like $599 US dollars. Riiiiidge Racer!

Because profit requires you to pay taxes. It's not uncommon at all for growing companies to invest and otherwise use up any profit they generate so the balance sheet stays negative while the company keeps growing in value.
Also allows you to cry how those dirty 3rd party app developers are stealing all your profit boo hoo.

When you look at the revenue growth of reddit, it's not hard to see that if they were able to function at all when they had a revenue 1/10th of what it's now, they could turn profit if they wanted to.

You don’t have to be profitable to have a desirable stock, but usually there is some promise of future profitability (like Tesla for most of its history.)

Not sure what reddit has going for it, though.

This has never been necessary for an IPO.

Who cares, we're leaving an economy where no one cared about profitability. Just growth. It's all about whether they can capitalize on that growth now.

Spotify was the same. Turned a profit the first quarter after shifting the focus towards profitability.

Every day the same thing ad nausea. Fascism bad. Sexism bad. Phobia bad. Musk bad. Orange man bad. Inflation bad. Boomers bad. Cats good. Name my rescue dog. Celebrity good. Celebrity dead.

That's not just Reddit. That's the entire Internet right now. Reddit or Lemmy, X or Mastodon, Facebook or anything else on the Fediverse. It's all the same. We are living in a time of mass fear because of several different reasons. War, climate, economy, personal rights... pick whatever topic you want. There's a reason to be angry about it.

We need to go back to the days of happy people sharing their passions, rather than angry people attacking each other. But that won't happen anytime soon.

It's still insanely popular.

I go there still when I want product recommendations that aren't full of marketing/ads. If I use a search engine to search for example, "dashcam recommendations," I get a million results that are sponsored, SEO-optimized, or otherwise garbage. If I go on Reddit, I'll find an entire community devoted to the topic with seemingly real people discussing the pros/cons of all different models.

I've tried searching with Lemmy but most of the time I can't find the answers I'm looking for so end up crawling back to Reddit.

I absolutely don't go there to doomscroll like I used to, I've thankfully moved on from that life.

Your experience is very different from mine. Yoy make it sound rosy over there. In my experience all but a few subs have slipped to the right. I've seen blatantly racist top comments on racist-bait posts on multiple mainstream subs.

I've never seen the view of an IPO so heavily affected by bias. Superusers hate Reddit but so what - what matters is whether soccer moms are scrolling and being shown ads. No one cares that the most costly users are unsatisfied. You and me both are nothing to investors.

Is there some objective analysis of this IPO? All I'm seeing is "I'm a superuser who spent a lot of time on Reddit in 2007 and it was far superior back then. The stock will tank."

Honestly not much different on largerv lemmy communities either.

This is more of a symptom of our society than of a specific platform.

It's because LLMs don't have imagination

r/sffpc is still good tho.

Boo hoo cry some more 🤌🎻

I guarantee you they do just that if you buy it through some shitty sub-brokerage

Three fiddy.

I'm considering buying a few shares (if I can grab just a few) just to watch it burn. And so I can be part of history. Or I'll wait for it crash after the ipo and grab a few as a likely to never profit but might type of play.

You guys really are no fun. I'm not going to throw thousands at them but if robinhood or sofi or whoever will let me grab 5 or less shares, I may make it happen. It's also likely to be a longer term profitable trade if the stock tanks (as I am sure others already expect) and then reddit gets bought out by musk or even openai.

One last edit and then I'm done here. I bet every one of you here is a broke mofo crying about your utilities, groceries, etc going up while you're income stays stagnant. You have fun with that.

I was for many years a heavy user and while I liked my niche communities, I abhorred the platform and how it was manipulating us through multiple schemes.

Oddly enough, while the communities here are smaller or nonexistent, the experience seems better and healthier.
Maybe in time this will change too.

I truly hope this.

Best of luck (mean that sincerely)

As someone who dated a stripper in college and got to know a lot of those folks outside of work, trust me, you don’t actually want a stripper girlfriend.

Edit: That said, the guitar is a fine choice.

A gold topless Paul? Whatever floats your boat

It seems like these tech IPOs happen when they are at their peak. Get a huge influx of extra cash once user growth starts to slow, pay off your early investors and then self-implode.

the way they took away awards, even old awards, was so fucking stupid and demeaning to the site as a whole. i don't see anyone using awards at all anymore

Throwing away a perfectly good bitten sandwich like that? smh

B/c Reddit has decided that you needed moar Reddit, so that you can haz Reddits while you are also Redditing.

That, or they are counting on someone, somewhere, to be dumb enough to fall for it.

Watch as people absolutely do. :-(

But hopefully this will provide us with another folded ideas video.

But reddit, like twitter, has demonstrated it is a brand/service (just service in the case of xitter) that people are addicted to and will not quit. And stuff like AMAs and astroturfing demonstrate it has a lot of marketability.

The issue is every mintue Spez has been at the helm, they've actively crashed any positive value the brand has had. It's been dead man walking before the IPO, which is not how you want your exit to go.