Overview

• Reddit aims to raise up to $748 million in its initial public offering, with a valuation of nearly $6.5 billion.
• The social media platform will list on the New York Stock Exchange under the ticker symbol 'RDDT', expected to go public this month or next.
• Reddit's IPO will be the first major U.S. social media company to go public in years, following Pinterest's IPO in 2019.
• The company has reserved shares for its users and moderators, emphasizing community ownership in its public offering.
• Despite its popularity, Reddit has yet to achieve profitability, recording a net loss of $90.8 million in 2023.