- cross-posted to:
- reddit@lemmy.world
- technology@lemmy.world
- cross-posted to:
- reddit@lemmy.world
- technology@lemmy.world
Fidelity has further slashed the estimated worth of its holdings in Reddit and Discord as well as SaaS startup Gupshup.
Fidelity has further slashed the estimated worth of its holdings in Reddit and Discord as well as SaaS startup Gupshup.
I can’t believe Steve Huffman (u/spez) is acting like this before an IPO. An IPO usually means a board of directors. Usually, the CEO reports directly to the board of directors and serves until they decide they need a new CEO. Forget third-party apps for a second, Fidelity has further slashed the estimated worth Reddit. Users are protesting against the site’s leadership. Porn bombing has brands concerned about advertising on Reddit; see https://techstory.in/advertisers-grapple-with-rising-brand-safety-concerns-as-reddit-protests-escalate-into-porn-bombing-campaigns/ He’s tarnished Reddit’s image. The sooner they do an IPO, the better as Huffman will become the artist formerly known as CEO.
Reddit has (very very likely) had a board ever since their first VC investment round in 2005, the board is backing this otherwise Spez would get voted out in a heartbeat
If Reddit has a board, and they let Spez loose to do this crap, then they deserve a $10 BN devaluation. Maybe this will be the wakeup call.