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Megathread for Reddit Blackouts and News - Rest of the Week(?) (self.technology)

submitted 1 year ago by alyaza to c/technology

176 comments fedilink hide all child comments

hey everyone. if you want to post links or discuss the Reddit blackout, its aftermath, and what's happening going forward, please localize it to this thread in order to keep things tidy! thanks! we'll see if we need to cycle the thread again before the end of this week, but i don't know that we'll need to

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[–] CmdrShepard@lemmy.one 5 points 1 year ago (2 children)

Reddit doesn't have any shares or shareholders currently.

[–] sunbeam60@lemmy.one 4 points 1 year ago

Yup, fully aware. I guess what I was trying to say was that there is a way to get rid of a CEO - own a lot of the business.

[–] darkmugglet@lemm.ee 2 points 1 year ago

The venture capitalists can if they have a majority of the shares. Since Reddit raised $1.3B, I wouldn't be surprised if the VCs own more than 50%. The only exception would be if those shares by the VCs are non voting, but I can't see a VC buying non voting shares.