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In unsurprising news, Reddit prepares IPO (www.businessinsider.com)
submitted 1 year ago by cygnus@lemmy.ca to c/snoocalypse@lemmy.ml
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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.

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[-] Blue_Morpho@lemmy.world -1 points 1 year ago

As a public company, not disclosing that they manufacuter conversation and opinion with fake data

You gave it backwards. As a public company, if they can make money doing that but choose not to, they can be sued by the shareholders.

[-] NotMyOldRedditName@lemmy.world 1 points 1 year ago* (last edited 1 year ago)

I don't think there's any problems with doing it, as long as they aren't claiming otherwise.

If they lie about it it becomes fraud.

Edit: And what are they going to do once asked on a public earnings call? Lie?

Edit: Falsely posting stuff might also open up a can of worms around the site no longer being protected by being user generated content?

this post was submitted on 07 Jan 2024
475 points (95.6% liked)

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