this post was submitted on 29 Nov 2023
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SNOOcalypse - document, discuss, and promote the downfall of Reddit.

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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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[โ€“] BarrierWithAshes@kbin.social 54 points 11 months ago (1 children)

Once again? I thought they were already in the process of it. The API-change was just another piece of it.

[โ€“] lvxferre@lemmy.ml 34 points 11 months ago (1 children)

They've been talking about IPO for a few years, but apparently this time it's a bit more serious. Unless something happens that throws their valuation down the drain.