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Could Redditors use the IPO to gain a controlling interest in the company? (kbin.social)

submitted 8 months ago by Bipta@kbin.social to c/random@kbin.social

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It seems possible in theory, but in practice it probably wouldn't happen as many of the people who care about Reddit the most left it when Reddit left them.

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[–] Hello_there@kbin.social 2 points 8 months ago

No. 1) the amount of stock open in initial offering is probably a small percent of total shares.
2) the amount of money needed is probably prohibitive, unless it crashes hard.
3) even if they did, all the normies are still on Reddit, meaning they're not very upset about the changes Huffman has made.