Reddit’s IPO Filing Shows Lots Of Losses After Nearly 20 Years
Reddit’s IPO Filing Shows Lots Of Losses After Nearly 20 Years
When will the company make money? After two decades, it still can’t say. And there are enough other red flags that investors might want to be wary.
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I receiced one of those special offer emails to buy stocks on Monday. Weren't those supposed to go only to power users? I haven't done anything with my account since the API debacle and wasn't a power user before.
I feel like their rug pull before the ipo doesn't work that good. I hope the gme bros will short reddit to the ground, that would be the best end to Reddit I can imagine. Fuck spez.
I got it on an email address linked to an account that was banned in 2020.
I was a semi-power user before leaving (13k link karma, 134k comments) and also received the IPO offer per email and per notification. I reported the notification as spam :)
It's so obvious that they want to squeeze some money out before everything goes down the drain.
Please don't forget to fill in the form anyway, with fake data. This will let them believe there are more interested users than reality
Same here. I don't even live in the states.
FWIW you don't have to live in the USA to participate in the US stock market. Not that I'd recommend doing so in this instance...
Edit: the Reddit Directed Share Program does appear to require USA residency https://www.reddit.com/dsp
the message they've sent indicates that you have to be a US resident.
What is the term for people who do buy things on your behalf and get their cut no matter what happens? Market manipulators have such connections.
Obviously these people providing the service are crooks and criminals so they can do anything. It isn't like you will call the police :-)
Gme bros don't short shit
As long as it's reverse Cramer, anything goes, including shorting.
buy/hold/drs/shop/vote
I got one, too, which is hilarious because not only was I not a "power user," but I torched all of my comments and posts with Redacted 7 months ago and have not touched the site since. I even avoid it when it comes up in Google results for something I'm looking into.
But they still sent me one of these stupid IPO emails.
I mean, obviously there is no human oversight or thought process behind these whatsoever. We all knew that. Probably anyone who has an existing account and a positive karma score got one, and I'm not even sure the threshold is that high.
But I guess we're all here doing their work for them anyway, because here we are talking about -- even if it is to ridicule -- and generating "buzz." I'm sure that's what they want, somehow.
They likely just sent it to anyone above a relatively low karma threshold desperate to get any sorry fool to buy their stock.
Jokes on them, I never associated email addresses with any of my reddit accounts.
Seems like a smart strategy would be to especially send it to those with a low karma threshold
but I torched all of my comments and posts with Redacted 7 months ago
I did exactly the same thing lmao
They are going out in stages based on # of mod actions or karma. I think the lowest Karma threshold in the final batch was 25k. Which seems like a lot, but isn't really, at least for the users they alienated in the API debacle.
This is just for the sign-up for information, though. Once they get the whole list they will start going down the list of sign-ups from the top, and start asking for money. Because this isn't a free share offering, it's a chance to buy at the IPO price. So even out of the list of Redditors who signed up, a bunch will pass, because if they had a few extra $10k sitting around, they would put anywhere else except Reddit.
And I don't think they have broken out how many shares are part of this program. (To be fair I haven't looked that closely). I predict that no matter how many people sign up, they will reject 90% just for the optics. They are only doing this for the free publicity, and rhe fact that they think Redditors will have emotional attachment to the shares for being let into the "club". So they will only give out enough for the press to write stories about it.
The whole point is getting real names. Most of the people who got the email will be wait listed but reddit will have their valuable data forever.
Someone redo this, but as an ad trying to get people to short reddit to the ground: https://www.youtube.com/watch?v=ImgMfJ2Lt2E
Here is an alternative Piped link(s):
https://www.piped.video/watch?v=ImgMfJ2Lt2E
Piped is a privacy-respecting open-source alternative frontend to YouTube.
I'm open-source; check me out at GitHub.
I got it as well. My accounts were banned... and then all the sudden an IPO comes along and the are unsuspended.... i went back in and redacted my accounts that got the email.
Your comment made me go back and check, and I definitely got unbanned at some point. I was site-banned for mass edit>deleting my comments on all my accounts during the API evacuation. One sub saw me doing it, and banned that first account. Whatever, no big loss cuz I’m scorching things on my way out the door anyways. When I did the same with the second account, both accounts were banned site-wide for ban evasion, (because that second account also had comments on that same sub.) And that same pattern happened with every account I had.
But now they’re all unbanned. I wonder if Reddit went back and unbanned old accounts, to try and boost their user numbers prior to the IPO.
Yes, also to fluff up the dataset for the AI sale.
I got one, too. I haven't used my account since the debacle as well, and I nuked my account, overwriting and deleting every comment lmao.
I deleted the email I got. I rarely if ever delete emails. Let that set in. I hope it had a return receipt!
I reported it as harassment lol
I did not get one and my account has a shit ton of karma. But the bio says that Reddit can go down in flames and to go to Lemmy, so that's probably why.
I redacted every message into something shit-talking reddit and got the email, so that can't be it.
I guess they just don't like me. 🤷