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

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

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[-] empireOfLove2@lemmy.dbzer0.com 79 points 3 months ago* (last edited 3 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 3 months ago

Yes, seems delusional at best

[-] empireOfLove2@lemmy.dbzer0.com 23 points 3 months ago

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

[-] banghida@lemm.ee 2 points 3 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 3 months ago

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

[-] FiniteBanjo@lemmy.today 2 points 3 months ago

Otherwise they might aim even higher like Twitter did.

[-] DarkThoughts@fedia.io 10 points 3 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 3 months ago

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

[-] thantik@lemmy.world 43 points 3 months ago* (last edited 3 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 3 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 3 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 3 months ago* (last edited 3 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 3 months ago* (last edited 3 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 3 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 3 months ago

Jim Cramer, that you?

[-] WraithGear@lemmy.world 1 points 3 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 3 months ago* (last edited 3 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 3 months ago

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

[-] NotMyOldRedditName@lemmy.world 9 points 3 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 3 months ago* (last edited 3 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 3 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 3 months ago

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

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

enshittification imminent.

this post was submitted on 11 Mar 2024

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