Reddit Is Letting Power Users In on Its IPO. Not Everyone’s Buying::Reddit says it wants to reward users by letting them buy into the company’s public listing. Some say it’s too risky—others say they won’t pay a company they’ve already given hours of free labor to.
Imagine being in /r/centuryclub but still not being cool enough to get into the real exclusive club - Group 1 reddit IPO.
That’s literally the group they just offered to. So, I guess not enough people bought the first wave.