Outside investors – people who gave money in exchange for ownership of the company and its IP. They’re received about 1.3 billion dollars in five or six rounds of funding from external investors. Reddit’s motivation to IPO is to pay off those investors and restructure ownership of the company.
Oh, so reddit isn’t really a capitalist thing where it’s competition making it better? It’s more like it just found the right people to beg from, but they want paid back?
Outside investors – people who gave money in exchange for ownership of the company and its IP. They’re received about 1.3 billion dollars in five or six rounds of funding from external investors. Reddit’s motivation to IPO is to pay off those investors and restructure ownership of the company.
Oh, so reddit isn’t really a capitalist thing where it’s competition making it better? It’s more like it just found the right people to beg from, but they want paid back?
Yes, that’s how a lot of tech companies work in late-stage capitalism. It’s more about stock prices than “begging” though.