Technology

59339 readers

5488 users here now

This is a most excellent place for technology news and articles.

Our Rules

Follow the lemmy.world rules.
Only tech related content.
Be excellent to each another!
Mod approved content bots can post up to 10 articles per day.
Threads asking for personal tech support may be deleted.
Politics threads may be removed.
No memes allowed as posts, OK to post as comments.
Only approved bots from the list below, to ask if your bot can be added please contact us.
Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago

MODERATORS

[email protected]

850

Reddit’s IPO Filing Shows Lots Of Losses After Nearly 20 Years (www.forbes.com)

submitted 8 months ago by [email protected] to c/[email protected]

194 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 29 points 8 months ago (1 children)

Vonage did something similar where they let users get in on the IPO. Then got sued in a class action lawsuit because the stock tanked.

https://web.archive.org/web/20121104141751/http://news.cnet.com/2100-1036_3-6079765.html

Reading through that article you could probably find/replace with Reddit.

The complaint alleges that Vonage's officers decided to offer shares to customers because they knew institutional investors who normally buy IPOs would be reluctant to buy Vonage stock. Vonage has consistently lost money and has never been profitable.

[–] [email protected] 12 points 8 months ago (1 children)

Oh, ouch! If this is similar, it's a bit ironic that they've pissed off the people who would've been most likely to invest in the IPO.

[–] [email protected] 10 points 8 months ago

I would have totally been one of those IPO investors. I'm seriously considering shorting the shit out of it now.