Reddit has never turned a profit in nearly 20 years, but it just filed to go public anyway | CNN Business
edition.cnn.com
Reddit, the message board site known for its chronically online userbase and for originating much internet discourse, filed for its long-anticipated initial public offering on Thursday.
  • ClopClopMcFuckwad@lemmy.world
    0·
    11 months ago

    They might have been able to turn a profit, but apparently u/Spez (fucking dipshit) collects over 190million in CEO compensation.

    • ZeroCool@slrpnk.netOPEnglish
      0·
      11 months ago

      Yeah, I saw that article too but it’s misleading. According to the S1 filed with the SEC, spez’s current base pay is $450,000; in 2023 he received about $792,000 in performance-based cash bonus. The rest of that 193 million is options. It’s not the reason reddit isn’t profitable.

      • S_204@lemm.ee
        01·
        11 months ago

        That motherfucker for 800k for THAT performance last year? I’ve never seen a blow up like he oversaw…how the fuck does that get you a bonus?