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In addition to the market turn, the IPO was a bit of an odd choice to begin with. Conde Nast, a large media company, owns Reddit and treats it like a media dist
by curiousllama 4y ago
In addition to the market turn, the IPO was a bit of an odd choice to begin with. Conde Nast, a large media company, owns Reddit and treats it like a media distribution channel, not a rocket-ship tech company. They were never IPOing to grow - it was basically Conde Nast saying "we think this is the best price we're ever gonna get for this asset."
The IPO goes away when the independent cash value of the company dropped below the business value of the distribution channel.
- mancerayder 4y agoConde Nast... Yesterday I observed a user suspiciously plugging a pay therapy web site, but in a subtle way, in strange contexts on various subs. Looking at the user's other posts, there were THOUSANDS of messages for that and all sorts of other links to various websites, saying something personal about how it helped them. I went to flag it but there was absolutely no option within the flag reason. Commercial astroturfing is 100 percent okay on Reddit, in other words. Is that because of Conde Nast owning it? They must own a portfolio of ad and product stuff.