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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 L4s@lemmy.world to c/technology@lemmy.world

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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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[–] MataVatnik@lemmy.world 22 points 8 months ago (1 children)

He paid himself 193 mil because he knows its not going to be worth more than 1.93 mil after the IPO.

[–] Speculater@lemmy.world 3 points 8 months ago (1 children)

I've spent years watching IPOs, it's going to get pumped and then dump after a few months. Anyone shorting it after the first couple of weeks is going to lose their ass.

[–] MataVatnik@lemmy.world 1 points 8 months ago

I can't wait to see how this plays out