Reddit must now answer to its shareholders as well as its vocal users.
Hey member that time AOL bought Warner Brothers. And everybody was all “wow these internet companies are here to stay!”
Lol
Reddit faces new reality after cashing in on its IPO
Submitted 7 months ago by BrikoX@lemmy.zip to technology@lemmy.zip
https://arstechnica.com/tech-policy/2024/03/reddit-faces-new-reality-after-cashing-in-on-its-ipo/
Comments
homesweethomeMrL@lemmy.world 7 months ago
happybadger@hexbear.net 7 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.
TurtleTourParty@midwest.social 7 months ago
!moderism@lemmy.ml for the lazy.
aBundleOfFerrets@sh.itjust.works 7 months ago
Why lemmy.ml?
themachine@lemm.ee 7 months ago
Totally ignorant question from me - why not?
bdonvr@thelemmy.club 7 months ago
lemmy.ml, one of the larger instances and the original? Seems good enough reason to me.
TheVillageGuy@kbin.melroy.org 7 months ago
@happybadger Create your own instance while you still can. If you're interested in hosting large images pick mbin instead of Lemmy and I can help you bypass filesize restrictions
TheVillageGuy@kbin.melroy.org 7 months ago
I hope you're getting my reply to your question as for some reason I'm not seeing it in the feed. Let me know if you don't receive it
Anticorp@lemmy.world 7 months ago
Ha! It’s already falling in price.
bradorsomething@ttrpg.network 7 months ago
If 45 breaks monday this turkey is dead
timicin@lemmygrad.ml 7 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.
Liz@midwest.social 7 months ago
Can anyone remember what share price Reddit offered to “power users?”
givesomefucks@lemmy.world 7 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.
AlexWIWA@lemmy.ml 7 months ago
It was pretty damn high
ColeSloth@discuss.tchncs.de 7 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.
FireTower@lemmy.world 7 months ago
As well as?
I’m not to sure about that second part.
eran_morad@lemmy.world 7 months ago
Lotsa regards gonna be sellin ass behind the Wendy’s dumpster.
BigMikeInAustin@lemmy.world 7 months ago
When did Reddit answer to any users?
givesomefucks@lemmy.world 7 months ago
About 15 years ago.
When they first got popular and had to ban all the pedo subs because people were pissed
Anticorp@lemmy.world 7 months ago
All the time. The answers were usually to the tone of “lol, fuck you”.