Reddit files for IPO. Lists WallStreetBets as a risk factors. Also allowing top users to invest directly as a separate class.
It’s really happening.
https://www.theverge.com/2024/2/22/24079978/reddit-ipo-public-offering-shares-power-users
Looks like they are doing about $800M in revenue. This is more than expected. But still loss making, so it’s gonna be tough to list well in this market.
- Plans to place a chunk of pre IPO shares to 75,000 top users.
“I want our users to be shareholders, and I want our shareholders to be users,” said Reddit CEO Steve Huffman.
There are rumours of Reddit selling data to google in exchange for ranking better on google leading up to the IPO, so there are bears watching on closely
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