• 4 Posts
  • 15 Comments
Joined 1 year ago
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Cake day: May 31st, 2023

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  • Disturbingly, there is really no way to know who actually owns a private company like Reddit. Once it goes public, then the owners will be the shareholders (and in reality, the owners are the major shareholders who have a controlling stake).

    The only clue to the current ownership is whatever management wishes to disclose. Spez wrote a blog post in 2021 indicating that they issued $250M in “series E funding” to existing and new investors.

    If there are any finance bros around here, they may be able to dig up some sort of disclosures from bond auctions to try and see who bought it.

    The only confirmed investor I know about is Tencent. They invested in 2019. Its possible they were also some of the “existing investors” Spez referred to in 2021.

    Bottom line: nobody knows who owns Reddit. But apparently the owners think this guy Spez is a good fit to run their company, somehow.






  • patchymoose@beehaw.orgtoLinux@lemmy.mlr/linux is private now
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    1 year ago

    Awesome. The Linux community should be among the vanguard of this whole effort given our philosophy.

    Honestly I’ve only been on Lemmy for a few days and I don’t anticipate going back to Reddit. I’ll probably use Reddit for IT help queries periodically but that’s it. I like Lemmy quite a bit more.