Reddit moderators have long been a crucial part of the site’s success, but as the platform prepares for its highly-anticipated IPO, many are feeling hesitant about participating. The strained relationship between moderators and management, along with concerns about the company’s financial situation, have left some moderators questioning whether to invest in Reddit’s future.
The social media platform is planning to sell shares in its IPO at $31 to $34 each, potentially valuing the company at around $6.5 billion. Shares are expected to trade under the ticker symbol “RDDT,” with a directed share program (DSP) in place for certain high-reputation users and moderators. A portion of the shares, 1.76 million out of the 8 million total, have been reserved for the DSP.
While some well-known moderators, like BuckRowdy and Akaash Maharaj, have decided to pass on the IPO due to concerns about Reddit’s financials and the long-term direction of the platform, others, such as Sweatycat and FormicaDinette33, are planning to participate. The IPO has sparked mixed reactions among moderators, with some seeing it as a potential investment opportunity while others express skepticism and distrust towards the company.
The DSP is seen by some as a tactic by management to encourage moderator participation and prevent any disruptive actions during the IPO process. Akaash Maharaj believes that the program is a way for Reddit to control the narrative and ensure a smooth IPO.
Overall, the sentiment among moderators towards Reddit’s IPO is one of caution and skepticism. Many moderators are hesitant to invest in a company they feel they cannot fully trust. The upcoming IPO has highlighted the complex relationship between moderators and management, raising questions about the future of the platform and the role of its most dedicated community members.
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