this post was submitted on 23 Feb 2024
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Reddit Files to Go Public, Reveals That It Paid CEO $193 Million Last Year (www.thedailybeast.com)
submitted 8 months ago by L4s@lemmy.world to c/technology@lemmy.world
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Reddit Files to Go Public, Reveals That It Paid CEO $193 Million Last Year::Nineteen years since its founding, the social media site is finally going public.

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[–] Faceman2K23@discuss.tchncs.de 5 points 8 months ago (1 children)

Sure, but the stock is illiquid until after the IPO, and its current value is only based on the value estimate given for the purpose of the IPO.

He will still make bank unfortunately, but its not unusual for new IPOs to give stock options to CEOs with ridiculous values that don't really mean anything until the stock is publicly trading and a true value is established by the market.

[–] krashmo@lemmy.world 35 points 8 months ago (1 children)

The fact that this is a common occurrence in our capitalist society in no way invalidates the fact that it's complete and utter horseshit.