this post was submitted on 15 Jun 2023
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Technology
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Reddit doesn't have any shares or shareholders currently.
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.
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.