Reddit gets ready for IPO, setting a top valuation of $6.4 billion : reddit

Reddit gets ready for IPO, setting a top valuation of $6.4 billion (www.axios.com)

submitted 9 months ago by Blaze@dormi.zone to c/reddit@lemmy.world

24 comments fedilink hide all child comments

What's next: Reddit is likely to go public next week.

top 24 comments

sorted by: hot top controversial new old

[-] empireOfLove2@lemmy.dbzer0.com 79 points 9 months ago* (last edited 9 months ago)

$6.4 billion for a company that has never turned a profit in the last 18 years? Lol

[-] Blaze@dormi.zone 37 points 9 months ago

Yes, seems delusional at best

[-] empireOfLove2@lemmy.dbzer0.com 23 points 9 months ago

Well nothing new for Huffman to be delusional and out of touch. Affluenza afflicted ass.

[-] banghida@lemm.ee 2 points 9 months ago

This is quite common on the wall street. Companies are in the business of selling stock, not making money on the free market.

[-] qwed113@lemmy.world 23 points 9 months ago

I’m pretty sure the leadership just wants to cash out ASAP.

[-] FiniteBanjo@lemmy.today 2 points 9 months ago

Otherwise they might aim even higher like Twitter did.

[-] DarkThoughts@fedia.io 10 points 9 months ago

Honestly I think he's gonna sell Reddit as soon as he can get a decent enough offer. It's a sinking ship already.

[+] WraithGear@lemmy.world -39 points 9 months ago

A hammer doesn’t turn a profit either. Its a tool used for a purpose.

[-] thantik@lemmy.world 43 points 9 months ago* (last edited 9 months ago)

Yes it does. Hammers are like $0.20 to make, and sell for like $6. And they don't cost millions to keep working either. This isn't the example you think it is, hahaha.

[-] Carighan@lemmy.world 25 points 9 months ago

Plus even if you just look at it as a tool, it does turn a profit, via being a tool. That's why a business gets a few, despite them originally costing them money. There's expected value in the hammer. It exists, physically, and it has turned a profit plenty before.

[-] WraithGear@lemmy.world 2 points 9 months ago

My intention is that the value of the thing is what it can be used for. Its a tool that can be used to spread propaganda, and control the narrative. For the owner it’s a means to an end. Guess i should have clarified.

[-] Revan343@lemmy.ca 2 points 9 months ago* (last edited 9 months ago)

That works for privately owned companies-- the current example is Twitter, which is useful for pushing propaganda.

It doesn't work for publicly owned companies, because public investors are only interested in profitting

[-] Aphelion@lemm.ee 12 points 9 months ago* (last edited 9 months ago)

A hammer is not a company that has created and maintained a product platform that requires a cash-flow to keep funding development and keep the servers up.

[-] WraithGear@lemmy.world 1 points 9 months ago

I was intending to use it as a metaphor. Meteors usually are not the exact thing they describe. Its goal doesn’t have to be a thing that turns a profit, when it can be used as a tool in other ways. I didn’t do a good enough explanation of my meaning

[-] HootinNHollerin@lemmy.world 2 points 9 months ago

Jim Cramer, that you?

[-] WraithGear@lemmy.world 1 points 9 months ago

I get the other responses as i wasn’t very clear on my meaning, but this confuses me.

[-] HootinNHollerin@lemmy.world 2 points 9 months ago* (last edited 9 months ago)

Ah was joke reference to the Mad Money tv show stock investor guy, who notoriously has a following of people who invest the opposite of what he recommends

[-] Nutteman@lemmy.world 1 points 9 months ago

A hammer is a tool to be used to smash my testicles into a paste

[-] NotMyOldRedditName@lemmy.world 9 points 9 months ago

Any bets on how long after going public they go back on their promise to never get rid of old.reddit.com?

[-] FiniteBanjo@lemmy.today 6 points 9 months ago* (last edited 9 months ago)

Feel bad for the people who buy it lol, excluding the day traders planning to inflate it before riding it into the ground.

[-] haui_lemmy@lemmy.giftedmc.com 2 points 9 months ago

Remember the wolf of wall street when pump and dump schemes could get you jailed? Jordan Belfort looks like the honest guy in today‘s economy.

[-] FiniteBanjo@lemmy.today 1 points 9 months ago

When bad things happen to bad people, the world feels right.

[-] ICastFist@programming.dev 3 points 9 months ago

Pffft, I love how "market" news never have to deal with reality checks. Guess I'll make a shovelware company, make 2 shit games and announce an IPO, "Totally expecting at least 1 billion valuation, it's totally worth it, you guys"

[-] Atlas48@ttrpg.network 2 points 9 months ago

enshittification imminent.

this post was submitted on 11 Mar 2024

65 points (97.1% liked)

17812 readers

6 users here now

News and Discussions about Reddit

Welcome to !reddit. This is a community for all news and discussions about Reddit.

The rules for posting and commenting, besides the rules defined here for lemmy.world, are as follows:

Rules

Rule 1- No brigading.

**You may not encourage brigading any communities or subreddits in any way. **

YSKs are about self-improvement on how to do things.

Rule 2- No illegal or NSFW or gore content.

**No illegal or NSFW or gore content. **

Rule 3- Do not seek mental, medical and professional help here.

Do not seek mental, medical and professional help here. Breaking this rule will not get you or your post removed, but it will put you at risk, and possibly in danger.

Rule 4- No self promotion or upvote-farming of any kind.

That's it.

Rule 5- No baiting or sealioning or promoting an agenda.

Posts and comments which, instead of being of an innocuous nature, are specifically intended (based on reports and in the opinion of our crack moderation team) to bait users into ideological wars on charged political topics will be removed and the authors warned - or banned - depending on severity.

Rule 6- Regarding META posts.

Provided it is about the community itself, you may post non-Reddit posts using the [META] tag on your post title.

Rule 7- You can't harass or disturb other members.

If you vocally harass or discriminate against any individual member, you will be removed.

Likewise, if you are a member, sympathiser or a resemblant of a movement that is known to largely hate, mock, discriminate against, and/or want to take lives of a group of people, and you were provably vocal about your hate, then you will be banned on sight.

Rule 8- All comments should try to stay relevant to their parent content.

Rule 9- Reposts from other platforms are not allowed.

Let everyone have their own content.

:::spoiler Rule 10- Majority of bots aren't allowed to participate here.

founded 2 years ago

MODERATORS

_MoveSwiftly@lemmy.world

Thekingoflorda@lemmy.world

ja2@lemmy.world

Rooki@lemmy.world

L3s@lemmy.world