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A comment on Reddit App – Suspicious high number of recent 5 star, one word reviews. Parent comment

Re:Reddit App – Suspicious high number of recent 5 star, one... by gkoberger on Friday June 16, 2023 @12:30PM (#36359412)
I don't know how much sway Conde Nast has. Reddit spun out in 2011, and since then has raised about $1.25bn (!!) dollars.

So I doubt Conde Nast has much say, if any, at this point.... and while I dislike everything spez is doing, I imagine he has the full backing of investors looking to IPO soon.

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Re:Reddit App – Suspicious high number of recent 5 star, one... by jonny_eh on Friday June 16, 2023 @12:37PM (#36359536)
Whoever invested the $1.25B has the say now. Hence this drama.
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Re:Reddit App – Suspicious high number of recent 5 star, one... by hdjjhhvvhga on Friday June 16, 2023 @12:49PM (#36359786)
But do these people realize what is actually happening?

And to think it all started because of API pricing increase...

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Re:Reddit App – Suspicious high number of recent 5 star, one... by mymythisisthis on Friday June 16, 2023 @01:21PM (#36360373)
Manager of an investment fund is told to invest in social media, so they do so. Put a bit of money into each one.

Market's aren't rational.

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Re:Reddit App – Suspicious high number of recent 5 star, one... by jonny_eh on Friday June 16, 2023 @01:21PM (#36360366)
Has the WSJ reported on it yet?
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Re:Reddit App – Suspicious high number of recent 5 star, one... by 6510 on Friday June 16, 2023 @12:50PM (#36359815)
Maybe they just want to burn it to the ground.
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Re:Reddit App – Suspicious high number of recent 5 star, one... by vlunkr on Friday June 16, 2023 @12:59PM (#36359981)
They are probably realizing that it's not the cash cow they wanted.
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Re:Reddit App – Suspicious high number of recent 5 star, one... by funciton on Friday June 16, 2023 @01:17PM (#36360290)
$300 million of that was raised against a $3 billion valuation, and another $700 million against a $10 billion valuation. All in all fairly little dilution for Conde Nast / Advance Publications.
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Re:Reddit App – Suspicious high number of recent 5 star, one... by isomorphic on Friday June 16, 2023 @01:18PM (#36360300)
Ars Technica still puts this blurb at the end of their Reddit-related articles:

> "Advance Publications, which owns Ars Technica parent Condé Nast, is the largest shareholder in Reddit."

https://arstechnica.com/gadgets/2023/06/the-reddit-protests-...

(That article is a day old now, and I still don't think it includes everything that's happened late this week.)

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Re:Reddit App – Suspicious high number of recent 5 star, one... by JumpCrisscross on Friday June 16, 2023 @01:32PM (#36360564)
Largest, but not controlling. They have one Board member. The others are J.D. Power (David Habiger), Joy (Porter Gale) and Y Combinator (Mike Seibel), among others. They can't "step in and stop the madness."
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