Reddit Is Letting Power Users In on Its IPO. Not Everyone’s Buying::Reddit says it wants to reward users by letting them buy into the company’s public listing. Some say it’s too risky—others say they won’t pay a company they’ve already given hours of free labor to.
They’re just trying to get people to tie their real names, addresses, email, and financial information to their profiles, especially the ones with established post histories going back years.
They can figure some of that out, but all rolled up and verified by the account holder?
That makes their data on users waaaaaay more valuable to the people who buy data.
Now this is one part where I believe them. Public companies have strict controls on their investor relations. I can believe that they are going out of their way to keep their investor info separate from their user info. They will probably get fined by the SEC if they don’t.
That doesn’t make it a good investment, of course. I don’t want to be King Steven’s exit liquidity.
I got an invite, too. I reported of as spam.
I also got one. I have a little bit of money sitting in a brokerage holding account, and I was already thinking of buying a single share as a joke (so I had the option to heckle them “as an investor in the company”). But I wouldn’t do it via their stupid IPO insider process. That requires the buyer to share some PII with reddit. And I don’t trust them as far as I could throw them.
They sent me an offer. I ain’t buying
