Reddit goes public and welcoming energy customers to speculate

An image showing the Reddit logo on a red and white background
Picture: The Verge

On Thursday, Reddit filed its S-1 registration assertion with the SEC detailing its funds and enterprise objectives forward of its imminent preliminary public providing on the New York Inventory Trade beneath the image RDDT.

In its S-1 doc, Reddit mentioned it made $804 million in income final yr, the overwhelming majority of which got here from promoting. Nonetheless, the corporate is unprofitable, with a internet lack of $90.eight million in 2023.

In an uncommon twist, Reddit can also be giving an unspecified variety of its prime customers, together with moderators and people with excessive karma scores, the possibility to purchase shares in its IPO. That’s a privilege often reserved for skilled buyers who wish to purchase inventory at a theoretically cheaper price earlier than everybody else will get to buy…

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