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this post was submitted on 16 Jun 2023
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Reddit Migration
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Why go through all that effort when you can just replace one CEO?
I doubt that it is just the CEO. With an IPO coming up, all the stakeholders and the board and the senior leadership are poised to make a shit ton of money. This whole thing is designed to make the company more attractive to investors so they are all on board.
Make a ton of money, or depending on how things go, lose a ton of money.
Insiders typically don't lose money even if a company tanks after ipo. The ipo is a set price and it's pretty common for insiders/other shareholders to dump their bags at that price while people biying at the ipo get fucked.
People keeping an eye on recent events at Reddit might be reconsidering that set price...