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Reddit is being funded by a fake company?

125 pointsby mik3yabout 3 years ago

15 comments

phendrenad2about 3 years ago
The company probably isn't fake, but this does bring up an interesting question: what's the point of forcing companies like reddit to publicly reveal their investors if their investor can be just a company name in a filing cabinet with no record of who owns it?
lmcabout 3 years ago
Nice story, but BS.<p>&quot;Reddit’s latest Series F of $410 million dollars was funded by two lead investors. Fidelity Management and Research and Khaira Capital.&quot;<p>The only source I could find that company is involved is crunchbase, which anyone can edit.
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narratorabout 3 years ago
I occasionally look at a few very niche subreddits, but for news, Reddit is complete garbage. Reddit has been kind of dead to me since 2016. They were the first big victim of the ongoing anti-free-speech wave that started in 2016.
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lizardactivistabout 3 years ago
It&#x27;s a pro-American global community where very little that attempts to break the echo is allowed to remain visible. It wouldn&#x27;t be surprising if there is U.S. gov money somehow coming into it via other less-obvious routes.
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sophaclesabout 3 years ago
&gt; In addition, two of these articles are identical, while supposedly having been written by 2 different people at 2 different news sources. Jasmine Andrade from Clear Publicist and Christopher Harpur of Daily Scanner somehow wrote identical articles about Jivteshwar on the same day.<p>Or a press release went out and was republished by 2 different places. This happens often. Sometimes they&#x27;ll get reworded and sometimes not.<p>Edit: republished has 1 &#x27;l&#x27;
yangityabout 3 years ago
Nothing to see here folks.<p>From Reddit’s press release (<a href="https:&#x2F;&#x2F;www.redditinc.com&#x2F;blog&#x2F;reddit-secures-funding-to-continue-growth-plans" rel="nofollow">https:&#x2F;&#x2F;www.redditinc.com&#x2F;blog&#x2F;reddit-secures-funding-to-con...</a>):<p>&gt; We will raise up to $700 million in Series F funding, led by Fidelity Management and Research Company LLC. and including other existing investors, at a post-money valuation of over $10 billion.
version_fiveabout 3 years ago
It&#x27;s [removed] now, what did it say?
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johannes1234321about 3 years ago
&gt; The company’s website is <a href="https:&#x2F;&#x2F;www.khairacapital.com" rel="nofollow">https:&#x2F;&#x2F;www.khairacapital.com</a>. It is mostly blank pages with zero information.<p>This is Larry Ellison&#x27;s real estate and investment company: <a href="http:&#x2F;&#x2F;www.lawrenceinvestment.com&#x2F;index.php" rel="nofollow">http:&#x2F;&#x2F;www.lawrenceinvestment.com&#x2F;index.php</a><p>Waren Buffet&#x27;s <a href="https:&#x2F;&#x2F;berkshirehathaway.com&#x2F;" rel="nofollow">https:&#x2F;&#x2F;berkshirehathaway.com&#x2F;</a> is also famous.<p>Keeping somewhat low profile is quite normal for these investment firms.
happythebobabout 3 years ago
That&#x27;s stupid that a r&#x2F;conspiracy post would end up here.
93poabout 3 years ago
Seems ridiculous to ban the user, remove the post, and lock the comment section. In a conspiracy theory subreddit of all places. This is like the perfect content for a subreddit like that.<p>Once again proving that the moderation model of Reddit also completely ruins reddit 95% of the time
kkfxabout 3 years ago
I suggest another point of view: why companies like Reddit, but also Twitter, do exists? Does ads ONLY justify the invested amount of money?<p>I bet anyone will answer: &quot;surely not!&quot; and than the point: why we do not came back to Usenet quickly instead of keeping up such services who happen to be unbalanced in usefulness terms?
nothing2see2about 3 years ago
Not a fake company, it&#x27;s a family office. Most likely thing is it&#x27;s a rich kid investing his parents&#x27; money. Also possibly it&#x27;s a rich kid who got rich himself in EMEA so HN hasn&#x27;t heard of him.
encryptluks2about 3 years ago
One thing I&#x27;ve noticed with reddit is they constantly push violence to the frontpage and encourage it. Someone calls you a name or uses a racist word, here watch this video of someone getting beat nearly to death for speech and here are 1000 top comments as to why that is perfectly okay and acceptable.<p>I get the feeling the police state actually wants more violence and crime and therefore encourages it quite frequently. Slavery is legal as long as someone is in jail or prison. They have people working for less than $1&#x2F;hr just for some extra snacks and perks.
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thefourthchimeabout 3 years ago
The TLDR is that the OP thinks it&#x27;s very &quot;sus&quot; that one of the founders for Reddit&#x27;s latest Series F round is hard to find any information for.<p>- The investor, Khaira Capital is run by &quot;Jivteshwar Khaira&quot; who is allegedly an 18yo &quot;Wonderkid&quot;, his linked in just has a picture of a Rolex watch<p>- The other &quot;employees&quot; of the company are also blank<p>- The website is mostly blank<p>- There are a few news articles about him, but two are duplicates, the one I read sounds like it was a PR publication.<p>- There is someone called &quot;Sukhpal Singh Khaira&quot; who is allegedly a drug kingpin, no idea if they are related.<p>As someone else said, it sounds like a wealthy family office.
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CamelCaseNameabout 3 years ago
Original Thread (now deleted):<p>Reddit is being funded by a fake company.<p>Reddit’s latest Series F of $410 million dollars was funded by two lead investors. Fidelity Management and Research and Khaira Capital.<p>Who is Khaira Capital? That’s a good question. They basically don’t exist.<p>The CEO and CIO are listed as Jivteshwar Khaira. Finding information on Jivteshwar Khaira is very difficult. He is supposedly an 18-year-old boy genius, yet somehow has zero identifying photographs and almost zero information publicly available. His Linkedin profile is simply a picture of a Rolex watch and his account is set to private.<p>In addition, Khaira Capital is listed on their Series F filing as having 51-100 employees, yet not a single one other than Jivteshwar has a profile on LinkedIn. The only contact information whatsoever is listed as the founder himself at j.khaira@khairacapital.com.<p>The company’s website is <a href="https:&#x2F;&#x2F;www.khairacapital.com&#x2F;" rel="nofollow">https:&#x2F;&#x2F;www.khairacapital.com&#x2F;</a>. It is mostly blank pages with zero information.<p>I was only able to find 4 articles about Jivteshwar. Three of them were written on Jan 9, 2022. The other was written on Jan 10, 2022. What an odd coincidence that three completely independent news agencies wrote publications about Jivteshswar within 2 days of each other, shortly before Reddit received millions of dollars in funding from his company.<p><a href="https:&#x2F;&#x2F;www.dailyscanner.com&#x2F;entrepreneur-inventor-wunderkind-and-philanthropist-jivteshwar-khaira&#x2F;" rel="nofollow">https:&#x2F;&#x2F;www.dailyscanner.com&#x2F;entrepreneur-inventor-wunderkin...</a><p><a href="https:&#x2F;&#x2F;www.clearpublicist.com&#x2F;entrepreneur-inventor-wunderkind-and-philanthropist-jivteshwar-khaira&#x2F;" rel="nofollow">https:&#x2F;&#x2F;www.clearpublicist.com&#x2F;entrepreneur-inventor-wunderk...</a><p><a href="https:&#x2F;&#x2F;www.blackbirdnews.com&#x2F;the-kid-philanthropist-jivteshwar-khaira&#x2F;" rel="nofollow">https:&#x2F;&#x2F;www.blackbirdnews.com&#x2F;the-kid-philanthropist-jivtesh...</a><p><a href="https:&#x2F;&#x2F;thehiltonian.com&#x2F;jivteshwar-khaira-philanthropist-pledges-100m-usd-to-columbia-university&#x2F;" rel="nofollow">https:&#x2F;&#x2F;thehiltonian.com&#x2F;jivteshwar-khaira-philanthropist-pl...</a><p>In addition, two of these articles are identical, while supposedly having been written by 2 different people at 2 different news sources. Jasmine Andrade from Clear Publicist and Christopher Harpur of Daily Scanner somehow wrote identical articles about Jivteshwar on the same day.<p>In these articles, Jivteshwar is described as a boy-genius, a wunderkind, a self-taught engineer and philanthropist, yet somehow no photographs whatsoever of this amazing person could be found online. His accomplishments include:<p>· Pledged $100M to Columbia University.<p>· Funded 18 schools in countries with low income families in Indonesia, Bali and Chad.<p>· Designed a prototype electric plane.<p>· Maintains strong relations with people on Wall Street (misnamed as Wall Avenue in the articles) and in Silicon Valley.<p>· While just a teenager, made a quantitative, very long-shorter equity tactic that runs an automatic basis on his laptop or computer. (No clue what this means, but that’s what is written)<p>· Helped fund some nonprofits in Africa so that they could import covid vaccines and set up free vaccination clinics in low income neighborhoods. We calculate that his contributions have led to about 10,000 people getting vaccinated and about 20,000 free tests being administered.<p>· organized groups and put together the funds to set up 22 free testing centres in northern India, along with 18 free vaccination clinics as a way to combat the pandemic. For this, he was awarded a commendation by the chief minister and governor of Punjab, and got to meet the prime minister<p>All of these amazing accomplishments were reported within 2 days of each other, yet know information about this astounding individual can be found anywhere.<p>In my research, I also googled &quot;Khaira family corruption&quot; and came across this article<p><a href="https:&#x2F;&#x2F;www.punjabnewsexpress.com&#x2F;punjab&#x2F;news&#x2F;sukhpal-khairas-son-blamed-ed-for-conspiring-to-malign-intimidator-and-harrass-his-father-157289" rel="nofollow">https:&#x2F;&#x2F;www.punjabnewsexpress.com&#x2F;punjab&#x2F;news&#x2F;sukhpal-khaira...</a><p>which describes Sukhpal Singh Khaira as a drug kingpin. Is this a relation to Jivteshwar Khaira? I don&#x27;t know, but it would describe where the money comes from.<p>All in all, what is blatantly clear is that Jivteshwar Khaira and Khaira Capital do not exist. They are a fake company covering up where Reddit&#x27;s money is actually coming from and some real investigation needs to be done about this.