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Has anyone else received the Direct Share Program email for Reddit's IPO? (lemmy.zxcvn.xyz)

submitted 9 months ago by [email protected] to c/[email protected]

38 comments fedilink hide all child comments

I got an email from reddit to the address for one of my old Reddit logins. The text, in part, when visiting the URL they provided (had to be logged in, not all of my old handles could see it):

Yes, it's really happening this time, and as we take the next step toward becoming a public company, we're inviting all eligible redditors to participate in Reddit's IPO.

“Eligible” you note skeptically? Yes. Unfortunately, there are a ton of imposed legal restrictions defining when, who, and how we do this. So while our goal is to give all redditors the same access to stock as institutional investors (why should they have all the fun?), our lawyercats tell us we must follow specific rules listed below.

Our Directed Share Program (“DSP”) is set up to let eligible users and moderators own a piece of Reddit by purchasing Reddit stock at the same price as institutional investors when we IPO. We will offer this opportunity to as many redditors as we are able to accommodate, and the number of people who can participate is limited.

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[–] [email protected] 5 points 9 months ago (1 children)

They want to have their payday and get out, there's no way they'd release enough stock to let that happen. I'm sure this is some ploy to convince the most active people to keep it up so they look good.

[–] [email protected] 3 points 9 months ago

And don’t forget, these active users and mods need to provide all their identity information. Makes sense on the stock purchasing part, but having real identities tied to profiles.. just what their AI models need.