Reddit's debut will mark the first major tech initial public offering of the year and the first social media IPO since Pinterest went public in 2019.

Social media company Reddit filed its IPO prospectus with the Securities and Exchange Commission on Thursday after a yearslong run-up. The company plans to trade on the New York Stock Exchange under the ticker symbol “RDDT.”

Reddit said it had $804 million in annual sales for 2023, up 20% from the $666.7 million it brought in the previous year, according to the filing.

The company said it has incurred net losses since its inception. It reported a net loss of $90.8 million for the year ended Dec. 31, 2023, compared to a net loss of $158.6 million the year prior.

Its market debut, expected in March, will mark the first major tech initial public offering of the year. It’s the first social media IPO since Pinterest went public in 2019.

Reddit first filed a confidential draft of its public offering prospectus with the Securities and Exchange Commission in December 2021.

  • dependencyinjection@discuss.tchncs.de
    0·
    9 months ago

    If you think it’ll tank, you’re just as deluded as the people that came here in the Exodus (myself included) who think Reddit is dying.

    The vast majority of people still use it and it will make money.

    Edit: Just look at how pretty much all the largest corporations can treat their customers and still make money. Reddit will force ads down everyone’s throats and sure some will leave, but the vast majority done care. Also, you have to factor in selling data for AI and and targeted ads etc.