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Yes, if you are a mod or an early user, you've received the option to buy early stock. I've received an e-mail from them, BUT I am not a US citizen so it was fo
by kranke155 3y ago
Yes, if you are a mod or an early user, you've received the option to buy early stock. I've received an e-mail from them, BUT I am not a US citizen so it was for nil.
Here's their email
"tl;dr – you’re invited to a special program that lets redditors purchase stock at the same price as institutional investors when we IPO. Details about eligibility and next steps follow. This (long, dense) email has all the info we can provide due to legal restrictions.
As you may have heard, Reddit has taken steps toward becoming a publicly traded company with the initial public filing of our registration statement with the U.S. Securities and Exchange Commission on February 22, 2024. Yes, it’s happening.
And because you have helped make Reddit what it is today, you now have the opportunity to become Reddit owners at the same price as institutional investors.
We’re offering a Directed Share Program (“DSP”) that invites eligible users and moderators who have contributed to Reddit to participate in our initial public offering (“IPO”). (Including you!)
Program Requirements
While being selected to pre-register is the first step, there are certain legal and regulatory requirements to participate in the DSP that are outside of Reddit’s control. Bear with us here…
To be eligible for the DSP, you must:
Be a current U.S. resident;
You will be asked to provide the DSP Administrator a valid social security or permanent resident number, along with other personal information. Reddit will not have access to this data.
Please note that U.S. residents using a VPN may face application limitations if the VPN locates them in certain non-U.S. jurisdictions.
Be at least 18 years old;
Provide your full legal name and an email address;
Not be a current or former Reddit employee (FTE).
When the DSP launches (a few weeks after pre-registration ends), individuals who have been confirmed for the program will be contacted by our external DSP Administrator. You will then be asked to provide additional information securely to the DSP Administrator to confirm your eligibility.
- abeppu 3y agoWait, these are not the same. "you now (2024) have the opportunity to become Reddit owners at the same price as institutional investors" is very different from in 2014 saying "the Series B Investors are giving 10% of our shares in this round to the people in the reddit community". Is there anyone who was a very active community participant prior to fall 2014, who as part of the series B got (was _given_) shares?
- kranke155 3y agoAh ok. I dont know.
- trey-jones 3y agoObviously I can't see the future, if I had to guess, the most valuable thing to do with this option to buy (is it a contract?) is to sell it before the IPO. If that is legal, then it could be lucrative for these early contributors.
- mhb 3y agoDoes it say how people "qualify" for that email?
- Scoundreller 3y agoI think there are thresholds in the S-1
- mhb 3y agoYes. From the S-1: Users and moderators who created an account on or before January 1, 2024 are potentially eligible for the directed share program. Eligible participants must reside in the United States and be at least 18 years of age. Further, eligible users and moderators must be in good standing on our platform and cannot be a current or former Reddit employee. We will invite users and moderators to participate in the directed share program in six phased priority tiers. We will assign each eligible participant to a tier based on that participant’s contributions to Reddit. User contributions will be measured in karma (a user’s reputation score that reflects their community contributions). Moderator contributions will be measured by membership and moderator actions on our platform. Tier 1 will include certain users and moderators identified by us who have meaningfully contributed to Reddit community programs. Tier 2 will include users who hold at least 200,000 karma and moderators who have performed at least 5,000 moderator actions. Tier 3 will include users who hold at least 100,000 karma and moderators who have performed at least 2,500 moderator actions. Tier 4 will include users who hold at least 50,000 karma and moderators who have performed at least 1,000 moderator actions. Tier 5 will include users who hold at least 25,000 karma and moderators who have performed at least 500 moderator actions. Tier 6 will include all other eligible users and moderators.