this post was submitted on 18 Jan 2024
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Reddit seeks to launch IPO in March (www.reuters.com)
submitted 2 years ago by ardi62@lemmy.wtf to c/reddit@lemmy.ml
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[–] Pons_Aelius@kbin.social 64 points 2 years ago* (last edited 2 years ago) (16 children)

They are about 2 years too late.

The rise in interest rates and the end of easy VC money has swung the dial back to: Companies actually need to generate profit and not just show user growth to be attractive to investors.

The IPO will not go as spez dreamed for so long.

[–] TropicalDingdong@lemmy.world 36 points 2 years ago (10 children)

They rise in interest rates and the end of easy VC money has swung the dial back to: Companies actually to generate profit and not just show user growth to be attractive to investors.

Yep, but also, I think spez is done. He's just cashing out and fuck you etc.. etc..

He'll catch enough to successfully eject and thats that for him. Reddit will die. But we'll have survived, and the open web will continue.

[–] Bonehead@kbin.social 11 points 2 years ago

Of course spez is cashing out. That was the whole point of returning as CEO after Ellen Pao was sacrificed to cleanse the site and make it investor friendly. He just wants to cash out more than the $6 million he got the first time.

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