Reddit files for IPO and will let some longtime users buy shares - Best News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/aitesonics.com\/reddit-files-for-ipo-and-will-let-some-longtime-users-buy-shares-234127305\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Reddit files for IPO and will let some longtime users buy shares - Best News\" \/>\n<meta property=\"og:description\" content=\"After years of speculation, Reddit has officially filed paperwork for an Initial Public Offering on the New York Stock Exchange. The company, which plans to use RDDT as its ticker symbol, will also allow some longtime users to participate by buying shares. 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{"id":3812,"date":"2024-04-11T17:03:36","date_gmt":"2024-04-11T17:03:36","guid":{"rendered":"https:\/\/aitesonics.com\/reddit-files-for-ipo-and-will-let-some-longtime-users-buy-shares-234127305\/"},"modified":"2024-04-11T17:03:36","modified_gmt":"2024-04-11T17:03:36","slug":"reddit-files-for-ipo-and-will-let-some-longtime-users-buy-shares-234127305","status":"publish","type":"post","link":"https:\/\/aitesonics.com\/reddit-files-for-ipo-and-will-let-some-longtime-users-buy-shares-234127305\/","title":{"rendered":"Reddit files for IPO and will let some longtime users buy shares"},"content":{"rendered":"

After years of speculation, Reddit has officially filed<\/ins><\/a> paperwork for an Initial Public Offering on the New York Stock Exchange. The company, which plans to use RDDT as its ticker symbol, will also allow some longtime users to participate by buying shares.<\/p>\n

In a note shared in the company\u2019s S-1 filing<\/ins><\/a> with the SEC, Reddit CEO Steve Huffman said that many longtime users already feel a \u201cdeep sense of ownership\u201d over their communities on the platform. \u201cWe want this sense of ownership to be reflected in real ownership\u2014for our users to be our owners,\u201d he wrote. \u201cWith this in mind, we are excited to invite the users and moderators who have contributed to Reddit to buy shares in our IPO, alongside our investors.\u201d<\/p>\n

The company didn\u2019t say how many users might be able to participate, but said that eligible users would be determined based on their karma scores while \u201cmoderator contributions will be measured by membership and moderator actions.\u201d<\/p>\n

The filing also offers up new details about the inner workings of Reddit\u2019s business. The company had 500 million visitors during the month of December and has recently averaged just over 73 million \u201cdaily active unique\u201d visitors. In 2023, the company brought in $804 million in revenue (Reddit has yet to turn a profit). The document also notes that the company is \u201cexploring\u201d deals with AI companies to license its content as it looks to expand its revenue in the future.<\/p>\n

Earlier in the day, Reddit and Google announced that they had struck such a deal<\/ins><\/a>, reportedly valued at around $60 million a year. \u201cWe believe our growing platform data will be a key element in the training of leading large language models (\u201cLLMs\u201d) and serve as an additional monetization channel for Reddit,\u201d the company writes.<\/p>\n","protected":false},"excerpt":{"rendered":"