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this post was submitted on 18 Jun 2023
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If I understand correctly they currently don't have investers currently since they made this move as part of their attempts to take the company public, so there's even less of an excuse.
They are a private company, not a public one. That does not mean they do not have investors. They have investors but they are privately held and probably private equity investors. I do not know exactly who or what investor groups own Reddit, but since it is a company it has investors.