Reddit must now answer to its shareholders as well as its vocal users.

  • Optional@lemmy.world
    link
    fedilink
    English
    arrow-up
    38
    ·
    9 months ago

    Hey member that time AOL bought Warner Brothers. And everybody was all “wow these internet companies are here to stay!”

    Lol

  • happybadger [he/him]@hexbear.net
    link
    fedilink
    English
    arrow-up
    36
    arrow-down
    1
    ·
    9 months ago

    I finally offboarded r/modernart to lemmy.ml/c/modernism today in anticipation of the IPO launch. Already reddit heavily censors and recuperates anything radical. That’s only going to get much worse along with advertising and bots. I can’t see the website lasting in its current form and that’s already pathetic. Lemmy is poised to really take off as reddit ratfucks itself.

    • timicin@lemmygrad.ml
      link
      fedilink
      English
      arrow-up
      1
      ·
      edit-2
      9 months ago

      i doubt it matters since huffman already got his money.

      i wonder if any moderators regret making him rich at the expense of their own time and effort; with nothing to show for it

    • givesomefucks@lemmy.world
      link
      fedilink
      English
      arrow-up
      25
      ·
      9 months ago

      IPO price, around $30, so it’s up 50%.

      Normal IPO, you have to hold like 6 months then sell. It artificially increases scarcity and keeps price up.

      The reddit users can sell right now though, and if enough do it at once, it can scare off new buyers and make those who already bought after IPO sell.

      It could waterfall and leave the traditional IPO buyers who can’t sell get stuck holding the bag.

    • ColeSloth@discuss.tchncs.de
      link
      fedilink
      English
      arrow-up
      3
      ·
      edit-2
      9 months ago

      It was $34 I’m waiting for options to pop up so I can buy puts and make money on it dropping to $25 over the next 6 weeks.

      *I got my puts bought today when share price was $51. I went for four months out on expiration. Wish me luck! Or come back in July and offer condolences.