👀 Reddit IPO making web2.5 moves with its equity “airdrop”

Anyone following the story?

👀 Reddit IPO making web2.5 moves with its equity “airdrop”

Anyone following the story?

https://www.wyomingpublicmedia.org/2024-02-22/meet-rddt-popular-social-platform-reddit-to-sell-stock-in-an-unusual-ipo

Principal at Cobalt Ventures. Write @ TheItinerant.io ; BenErsing.com Host: /venturecapital /founders /finance

Team Warpcast. Ex data platform @ Coinbase & Robinhood. I like /techno music & /mech-kb

It's an interesting play. Strong confirmation of the direction web3 social is going.

The way I understood it they are allocating shares (at IPO price) for some of their users and the general retail via Robinhood. Still taking a risk on market price going down.

onchain jams. building and tending /garden- + department.energy | https://twitter.com/codybrown

A true airdrop wouldn't benefit existing shareholders who are looking for liquidity.

It’s so crazy that this isn’t an airdrop. The channel creators made Reddit. Inviting them to “invest” after getting them to this point is so offensive.

We’ve been watching and following for a while. Have a number of current and former Reddit employees with equity comp that we do taxes for.

Isn't it more like an ICO rather than an Airdrop!! It says it'll allow top users a chance to buy shares 🤷‍♂️

Fuck Reddit and their entire IPO. 

Couldn’t care less after their dick move with external API access for third-parties.