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

this post was submitted on 11 Mar 2024

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

submitted 7 months ago by [email protected] to c/[email protected]

24 comments fedilink hide all child comments

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

top 24 comments

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[–] [email protected] 79 points 7 months ago* (last edited 7 months ago) (4 children)

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

[–] [email protected] 37 points 7 months ago (2 children)

Yes, seems delusional at best

[–] [email protected] 23 points 7 months ago

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

[–] [email protected] 2 points 7 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.

[–] [email protected] 23 points 7 months ago (1 children)

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

[–] [email protected] 2 points 7 months ago

Otherwise they might aim even higher like Twitter did.

[–] [email protected] 10 points 7 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.

[+] [email protected] -39 points 7 months ago (4 children)

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

[–] [email protected] 43 points 7 months ago* (last edited 7 months ago) (1 children)

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.

[–] [email protected] 25 points 7 months ago (1 children)

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.

[–] [email protected] 2 points 7 months ago (1 children)

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.

[–] [email protected] 2 points 7 months ago* (last edited 7 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

[–] [email protected] 12 points 7 months ago* (last edited 7 months ago) (1 children)

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.

[–] [email protected] 1 points 7 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

[–] [email protected] 2 points 7 months ago (1 children)

Jim Cramer, that you?

[–] [email protected] 1 points 7 months ago (1 children)

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

[–] [email protected] 2 points 7 months ago* (last edited 7 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

[–] [email protected] 1 points 7 months ago

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

[–] [email protected] 9 points 7 months ago

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

[–] [email protected] 6 points 7 months ago* (last edited 7 months ago) (1 children)

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

[–] [email protected] 2 points 7 months ago (1 children)

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.

[–] [email protected] 1 points 7 months ago

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

[–] [email protected] 3 points 7 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"

[–] [email protected] 2 points 7 months ago

enshittification imminent.