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Reddit: Return Of The Junk Stock IPO (www.forbes.com)

submitted 8 months ago by KingThrillgore@lemmy.ml to c/technology@lemmy.world

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[–] GregorGizeh@lemmy.zip 48 points 8 months ago* (last edited 8 months ago) (1 children)

More specifically, Reddit notes in its S-1 that, as an emerging growth company, it will:

present only two years of audited financial statements in the S-1,

not be required to obtain an auditor’s attestation report on the company’s internal controls over financial reporting requirements of the Sarbanes-Oxley Act,

provide less extensive disclosure about executive compensation arrangements, and

will not require stockholder non-binding advisory votes on executive compensation or golden parachute arrangements,

That sure sounds like a solid investment

Also, the two classes of shares (new shares get 1 vote per share, existing shareholders get 10 per share)… what the fuck. Why would anyone buy that shit

[–] jkrtn@lemmy.ml 7 points 8 months ago

No wonder they are trying to sell it to redditors.