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Reddit @lemmy.ml

ZeroCool @slrpnk.net

1y ago

Reddit has never turned a profit in nearly 20 years, but it just filed to go public anyway

edition.cnn.com

Reddit has never turned a profit in nearly 20 years, but it just filed to go public anyway | CNN Business

Technology @beehaw.org

ZeroCool @slrpnk.net

1y ago

Reddit has never turned a profit in nearly 20 years, but it just filed to go public anyway

edition.cnn.com /2024/02/23/tech/reddit-ipo-filing-business-plan/index.html

12 comments

They might have been able to turn a profit, but apparently u/Spez (fucking dipshit) collects over 190million in CEO compensation.
- Yeah, I saw that article too but it's misleading. According to the S1 filed with the SEC, spez's current base pay is $450,000; in 2023 he received about $792,000 in performance-based cash bonus. The rest of that 193 million is options. It's not the reason reddit isn't profitable.
  
  That motherfucker for 800k for THAT performance last year? I've never seen a blow up like he oversaw...how the fuck does that get you a bonus?
  
  Could you elaborate on that for someone who has no clue about stock market stuff?
- Paying the world’s biggest pissbaby almost 200 million surely instills confidence in investors
You think Reddit has BEEN bad? Wait until theres shareholders expecting a ROI.
Honestly its probably not going to go well.
Ah it's one of these things that they probably could be profitable, and certainly their almost billion in sales per year is healthy
It's worth remembering that corps pay no taxes if they spend more than they earn. VCs will often be happy to cover that shortfall with the idea of a big sale later. So nobody pays taxes and then eventually they sell or IPO for big bucks and roll that into more investments. The economy keeps on pumping
it's the old kamikaze wager, either it works or

12 comments