Connect with us

Hi, what are you looking for?

Rise In The FutureRise In The Future

Tech News

Reddit is going public and inviting power users to invest

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

On Thursday, Reddit filed its S-1 registration statement with the SEC detailing its finances and business goals ahead of its imminent initial public offering on the New York Stock Exchange under the symbol RDDT.

In its S-1 document, Reddit said it made $804 million in revenue last year, the vast majority of which came from advertising. However, the company is unprofitable, with a net loss of $90.8 million in 2023.

In an unusual twist, Reddit is also giving an unspecified number of its top users, including moderators and those with high karma scores, the chance to buy shares in its IPO. That’s a privilege usually reserved for professional investors who want to buy stock at a theoretically lower price before everyone else gets to purchase…

Continue reading…

You May Also Like

Editor's Pick

In this edition of StockCharts TV‘s The Final Bar, Dave and guest Julius de Kempenaer of RRG Research talk sector rotation, growth vs. value, offense vs....

Tech News

Photo by Jakub Porzycki/NurPhoto via Getty Images Intel’s chip-making division accumulated $7 billion in operating losses in 2023, Reuters reported on Tuesday. That’s a...

Tech News

Screenshot: Wes Davis / The Verge There’s a little-known hack in rural America: you can get the best fried food at the gas station...

Tech News

Photo by Amelia Holowaty Krales / The Verge Linux, the most widely used open source operating system in the world, narrowly escaped a massive...