Reddit is inviting some users to participate in its IPO this week, but moderators told CNBC that they’re not taking the company up on its offer.
Following the lead of companies like Airbnb and Rivian, Reddit is inviting some users to participate in its upcoming IPO.
Gilbert, who works as a research manager at Cornell University's Citizens and Technology Lab, said the bad blood from the conflict has"really sort of knocked a lot of the goodwill and the energy" from those who had been spending the most time and effort on trying to build up communities on the site. It's hard for her to now see the appeal in paying money to own a piece of the company and betting on its future.
Joshua White, an assistant professor of finance at Vanderbilt University, said Reddit's DSP could be"nice stocking stuff" if it were to follow the lead of companies that went public in 2020 and 2021. For wrestlegirl, who moderates the AEWOfficial subreddit for over 100,000 wrestling fans, the stock purchase program is"a nice enough thing to offer, but it's not a reward of any sort" and doesn't project to be a"long-term stable investment."
Wrestlegirl said that despite the swarm of negativity she's seeing among moderators, she thinks a decent number of them will participate in the IPO.
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