SNOOcalypse - document, discuss, and promote the downfall of Reddit.

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In unsurprising news, Reddit prepares IPO (www.businessinsider.com)

submitted 10 months ago by cygnus@lemmy.ca to c/snoocalypse@lemmy.ml

174 comments fedilink hide all child comments

Now the social media platform is aiming for an IPO in the first quarter of 2024 with a valuation of $15 billion, and has been in talks with potential investors like Goldman Sachs and and Morgan Stanley, per Bloomberg.

(page 2) 50 comments

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[–] ulkesh@beehaw.org 14 points 10 months ago (1 children)

And I sincerely hope anyone that invests in Reddit loses everything they put into it. The company deserves to die for the bullshit they did last year. It’s past time to move on.

[–] Jaytreeman@kbin.social 7 points 10 months ago

Every big IPO like this goes up like crazy at first... In this case I predict it will fall quickly afterwards.
There's money to be made though

[–] forgotmylastusername@lemmy.ml 14 points 10 months ago* (last edited 10 months ago)

Well I checked back. I also went to wipe the last bits of posts from a couple accounts. Soon as the scripts got done running...

Uh oh! We have suspended your account due to suspicious activity.

[–] NoIWontPickaName@kbin.social 12 points 10 months ago

Have we tried pulling a Twitter on this shit and seeing how many ads come up next to controversial Concepts yet?

I don't think it would take many of them to take this motherfucker

[–] zcd@lemmy.ca 12 points 10 months ago (2 children)

What a little shitbaby, that IPO is going to be worse than Robinhood’s

[–] feedum_sneedson@lemmy.world 4 points 10 months ago (2 children)

pisskidney

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[–] SteefLem@lemmy.world 12 points 10 months ago (1 children)

Well for me im gonna short the shit outta that ipo :)

[–] airportline@lemmy.ml 8 points 10 months ago* (last edited 10 months ago) (3 children)

Do not do this unless you're prepared to lose money

[–] MrFunnyMoustache@lemmy.ml 13 points 10 months ago (6 children)

Exactly. Shorting is way riskier than people think. If I bought a stock for $10, the most I can lose is $10; if I short a $10 stock and the stock booms, there is no theoretical limit to how much I could lose, because at the end of the day I would be required to buy that stock even if it went up 1000000%.

The only reason some groups can afford to short stocks is because they expect government bailout if they screw up.

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[–] KingThrillgore@lemmy.ml 10 points 10 months ago

They filed for IPO in December 2021. Its taken them THIS long. The competent management didn't leave the building, they were never there.

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