this post was submitted on 20 Mar 2024
113 points (89.0% liked)

Technology

59223 readers
3154 users here now

This is a most excellent place for technology news and articles.

Our Rules

  1. Follow the lemmy.world rules.
  2. Only tech related content.
  3. Be excellent to each another!
  4. Mod approved content bots can post up to 10 articles per day.
  5. Threads asking for personal tech support may be deleted.
  6. Politics threads may be removed.
  7. No memes allowed as posts, OK to post as comments.
  8. Only approved bots from the list below, to ask if your bot can be added please contact us.
  9. Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago
MODERATORS
L3s@lemmy.world
L3s@fry.gs
L4s@fry.gs
L4s@lemmy.world
enu@lemmy.world
113
Reddit guides IPO may price at top of range or above, source says (finance.yahoo.com)
submitted 7 months ago by 1984@lemmy.today to c/technology@lemmy.world
16 comments fedilink hide all child comments
 

Get your shorts ready, this will be very interesting to follow. Seems like the stock will appear tomorrow already?

I fully expect a nosedive in stock price but who knows. Maybe a pump and dump.

you are viewing a single comment's thread
view the rest of the comments
[–] stoly@lemmy.world 12 points 7 months ago (1 children)

They are essentially selling that percentage of the company to the public at large. Not enough for any shareholder to have any power over it, but enough for the company to get some spending money.

[–] tsonfeir@lemm.ee 12 points 7 months ago (1 children)

Which would be good considering they can’t make a profit. Although, I wonder how that makes them worth anything. The intricacies of legalized gambling and money laundering escapes me.

[–] ColeSloth@discuss.tchncs.de 2 points 7 months ago (2 children)

They're making money. It's just not a really high amount.

[–] mark3748@sh.itjust.works 5 points 7 months ago

It’s quite literally in the disclosures and the article you are commenting on. They lost $151MM in 2022 and $90MM in 2023.

[–] rambaroo@lemmynsfw.com 4 points 7 months ago (1 children)

Source? All the ones I can find say they're still losing money. 800M in revenue but 940M in expenses for 2023. https://www.marketwatch.com/amp/story/reddits-ipo-raises-questions-about-profitability-heres-how-it-makes-money-01f73f04

[–] Cogency@lemmy.world 4 points 7 months ago* (last edited 7 months ago) (1 children)
[–] admin@lemmy.my-box.dev 2 points 7 months ago

According to that link, his salary was "only" half a million. Or does he get 193 million in stock each year?