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this post was submitted on 01 Apr 2024
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United States | News & Politics
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I believe they did an IPO
My reaction when my instance admin "does an IPO" and basically sells my contributions and my data to the highest bidder
Not quite. They merged with a spac, which is an empty financial vehicle traded on a stock exchange that has the specific purpose of merging with a legitimate company later, allowing that legitimate company to go public much faster (3-6 months vs 12-18 months).