Nineteen years since its founding, the social media site is finally going public.

We live under corporate feudalism

  • PugJesus@kbin.social
    101·
    1 year ago

    Public filings also showed that Huffman and Reddit’s chief operating officer, Jennifer Wong, were paid $286 million in 2023, including stock and option awards (the value accrues over several years, and the current cash value is substantially lower).

    Over a FOURTH of the company’s yearly revenue is going to TWO people?

    • HarriPotero@lemmy.world
      29·
      1 year ago

      The article states that part of the compensation was stock and stock options. Likely incentive programs from previous years that finally paid off.

      edit: looks like spez got 600k salary, and the rest of the compensation is solely based on the stock’s performance… and he can’t cash that out unless someone is willing to buy all that reddit stock.

        • STOMPYI@lemmy.worldBanned from community
          1·
          1 year ago

          Well he has been grooming them on reddit for something… it will be a blood bath