"Reddit Invites Loyal Users to Invest in Unusual IPO as Company Submits Filing"
TL;DR Summary
Reddit filed for an IPO, revealing $804 million in revenue in 2023, mostly from advertising, but with a net loss of $90.8 million. In an unusual move, it's offering top users the chance to buy shares. The company has 267.5 million weekly users and plans to use 1.3 million shares to fund community programs. It also announced a data deal with Google and aims to monetize commerce and data licensing. CEO Steve Huffman is optimistic about Reddit's future despite previous setbacks.
- Reddit is going public and inviting power users to invest The Verge
- Reddit files to list IPO on NYSE under the ticker RDDT CNBC
- Reddit Plans to Sell Stock to Loyal Users in Unusual IPO Wager - WSJ The Wall Street Journal
- Reddit Reveals Its Finances, in Major Step Toward Going Public The New York Times
- Reddit submits its IPO filing Axios
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