ZeroCool comments on Reddit has never turned a profit in nearly 20 years, but it just filed to go public anyway

[–] ZeroCool@slrpnk.net [S] 24 points 2 years ago* (2 children)

Yeah, I saw that article too but it's misleading. According to the S1 filed with the SEC, spez's current base pay is $450,000; in 2023 he received about $792,000 in performance-based cash bonus. The rest of that 193 million is options. It's not the reason reddit isn't profitable.

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[–] S_204@lemm.ee 18 points 2 years ago (2 children)

That motherfucker for 800k for THAT performance last year? I've never seen a blow up like he oversaw...how the fuck does that get you a bonus?

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[–] ProtonBadger@kbin.social 7 points 2 years ago*

There was no blowup, Reddit both received more funding and their advertising earnings increased. A 21% revenue growth in 2023, I'd say also active user growth but I'm not entirely sure.

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[–] Omegamanthethird@lemmy.world 2 points 2 years ago

He's paid to be the face that everyone blames.

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[–] Mkengine@feddit.de 3 points 2 years ago (1 child)

Could you elaborate on that for someone who has no clue about stock market stuff?

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[–] kandoh@reddthat.com 3 points 2 years ago

He's mostly being paid in something that has potential value that he won't be allowed to sell in large enough quantities to have any real value.

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lemmy:	0.19.20
mlmym (mschae):	26.3.4