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It's not just market conditions that have Reddit moderators like Gilbert forgoing the investment opportunity. Reddit has long had a rocky relationship with moderators and the site's most dedicated users, or Redditors. In total, Reddit said underwriters have reserved 1.76 million of the 8 million shares in the IPO for the DSP. Meme stocksOf all companies, Reddit knows something about stock market volatility. However, given the dearth of tech IPOs since the start of 2022, White said Reddit's offering is "probably a little more risky."
Persons: Jonathan Raa, Sarah Gilbert, she's, She's, Airbnb, Doximity, Reddit's, Klaviyo —, It's, Gilbert forgoing, Reddit, Steve Huffman, Gilbert, you've, Alexis Ohanian, Twitch, BuckRowdy, Joshua White, White, FormicaDinette33, subreddits, it's, Wrestlegirl, Maharaj, shouldn't, He's, jeering, Courtnie Swearingen, Victoria Taylor, Swearingen, San, — CNBC's Cameron Costa Organizations: Nurphoto, Getty, New York Stock Exchange, Cornell University's Citizens, Technology, Google, YouTube, Facebook, CNBC, GameStop, AMC Entertainment, Vanderbilt University Locations: New, Chicago, San Francisco
Reddit Wants to Grow Up. Will Its Community Let It?
  + stars: | 2023-06-23 | by ( Mike Isaac | ) www.nytimes.com   time to read: +1 min
For the past 11 years, Bucky has put time and effort into stewarding and guiding dozens of communities on Reddit, the sprawling internet message board. Reddit had just introduced changes that sharply increased its fees for independent developers who build apps using the company’s data. Steve Huffman, Reddit’s chief executive, positioned the move partly as a way to shore up the company’s finances as it heads toward a long-awaited initial public offering. But the changes made it so expensive for some third-party developers that a handful who build tools for Reddit’s moderators had to shut down or significantly alter their apps. In protest, Bucky and other moderators closed down hundreds of forums on the site, effectively making Reddit unusable for many of its 57 million daily visitors.
Persons: Bucky, Bucky —, “ BuckRowdy, Reddit, Steve Huffman Locations: Reddit
A Reddit moderator told The New York Times there is still a "simmering rage" as users return. Reddit moderators shut down hundreds of forums last week to protest changes to how Reddit prices its API. The moderator called Reddit's changes "really demoralizing." Reddit is returning to a new normal this week following a sitewide blackout to protest the platform's changes to its API pricing policy. Reddit's changes to its API are set to take effect on July 1.
Persons: Bucky, Reddit, Steve Huffman Organizations: New York Times, Google Locations: Reddit
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