Comment on Reddit guides IPO may price at top of range or above, source says
stoly@lemmy.world 6 months agoThey are essentially selling that percentage of the company to the public at large. Not enough for any shareholder to have any power over it, but enough for the company to get some spending money.
tsonfeir@lemm.ee 6 months ago
Which would be good considering they can’t make a profit. Although, I wonder how that makes them worth anything. The intricacies of legalized gambling and money laundering escapes me.
ColeSloth@discuss.tchncs.de 6 months ago
They’re making money. It’s just not a really high amount.
mark3748@sh.itjust.works 6 months ago
It’s quite literally in the disclosures and the article you are commenting on. They lost $151MM in 2022 and $90MM in 2023.
rambaroo@lemmynsfw.com 6 months ago
Source? All the ones I can find say they’re still losing money. 800M in revenue but 940M in expenses for 2023. marketwatch.com/…/reddits-ipo-raises-questions-ab…