this post was submitted on 23 Feb 2024
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Remember when Spez said it was "It's time we grow up and behave like an adult company"? Apparently, that means paying himself $193 million and single-handedly tanking Reddit's profitability right b... (www.npr.org)
submitted 8 months ago by L4s@lemmy.world to c/technology@lemmy.world
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Remember when Spez said it was "It's time we grow up and behave like an adult company"? Apparently, that means paying himself $193 million and single-handedly tanking Reddit's profitability right b...::undefined

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[โ€“] dhork@lemmy.world 14 points 8 months ago (1 children)

Stocks and options that he's about to unload in the open market, assuming they will be vested. I think that's the real reason why they are opening up the IPO to Redditors. They want a fair amount of the stock - but not too much! - sold to people with an emotional attachment to it, who won't get in the way of their selling.

Note the Trump people playing the same exact game with DWAC.

[โ€“] Aux@lemmy.world 2 points 8 months ago

He can't unload all his stock for $193m.