Reddit literally shilling their own stonks to users in direct message, reveals that CEO gets paid $193 million last year

Sounds like a hell of a lot of money for a CEO who kept insisting that he had to kill 3rd party apps because Reddit still isn't profitable.

IPO = exit liquidity

Should have picked Harassment. Selecting Spam does nothing.

Spez truly got that little dick energy going on

They lost 93 million on 2023, and paid the CEO more than double that.

Nope - can't think of a single thing they could do to make reddit profitable.

Honestly, I'm kinda looking forward to the IPO - because it might be the last enshittification straw that breaks the camel's neck that will finally drown reddit for what it has become.

He wasn't paid that amount. He got 341,000 in cash and the rest was in stocks and options (which will only be worth that much if the company performs well financially). This us place is just like Reddit, nobody ever reads the article.

Hope the IPO is a fucking disaster and Hufflepig goes bankrupt

So why does your CEO get paid quarter of a billion a year if they had to hike their APIs unreasonably and kill all 3rd party apps because "reddit wasn't profitable" despite not paying a dime to the mods running their website niether to contribitors, posters nor users ?!?! Reddit is scummier than Uber

Seems to me the institutional investors aren't interested at the price they're asking.

While cutting off reddit apps that are better than the bloated shitshow that is the reddit app

Most of that money is in stock, so he's doing this to further inflate his stock value

What's next? Reddit Coin? NFTs?

So my 16 year account with 90k legit comment karma wasnt good enough to be invited?

Now I dont get to early participate in the fomo panic IPO being forced by investors?

I could've made or lost tens of dollars.

Should have marked self harm/suicide

This is such an amazing grift. I can't wait until more social media firms start trying to direct-market their stock to their user base.

The loss porn will be great material for WallsStreetBets

That little "tldr" at the beginning of that text wall makes me feel gross

And they don't even let you report it as the spam it is.

Ironic that reddit goes the way of digg.

How do I buy puts on this?

tldr: this will let you save money while you lose money

Yep. Did the same.

So 193 of the 203 millions is for the CEO...

How much would that be divided each currently active Lemmy instance?

I was in the first round of invites.

I might buy some depending on initial price. May as well milk them a bit like they're doing to their users.