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Reddit might once again be flirting with an IPO (techcrunch.com)

submitted 11 months ago by lvxferre@lemmy.ml to c/snoocalypse@lemmy.ml

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IPO = Initial Public Offering, where shareholders offer to sell their shares to the public, shifting a company from a "private company" (it belongs to me, you, and that guy) to a "public company" (it belongs to anyone who pays enough for the shares).

The userbase has been always touchy when it comes to IPO, and rightfully so; they know that the new owners will only care about squeezing the platform dry. As such, I predict a new flood of Redditfugees to Lemmy and Kbin.

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[–] spittingimage@lemmy.world 21 points 11 months ago (1 children)

When contacted, a Reddit spokesperson told TechCrunch via email that the company is in a quiet period and cannot comment.

What, like... the company has taken a vow of silence? The company has a sore throat from screaming all night at a Nickelback concert? The company partied way too hard last night and just wants a morning of 90s cartoons and an isotonic drink? What?

[–] CuddlyCassowary@lemmy.world 16 points 11 months ago

It’s an actual legal IPO thing:

https://www.investopedia.com/terms/q/quietperiod.asp

But I like your imagery better. Heh.