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Reddit to Offer IPO Shares to 75,000 Active Users

In an unprecedented move, Reddit plans to reserve a portion of its IPO shares for its most active users, aiming to foster loyalty and participation.

Overview

  • Reddit's IPO in March 2024 will include an offer for 75,000 of its most active users to buy shares before they go public.
  • The move is seen as an attempt to make the IPO more accessible to individual investors and build loyalty among the platform's user base.
  • Reddit's decision comes amid recent controversies, including changes to its API usage fees and a deal to sell user-generated content to an AI company.
  • The company's IPO has been in preparation for over three years, marking the first major social media IPO since Pinterest in 2019.
  • The success of Reddit's IPO remains uncertain, with the IPO market struggling and many new listings trading below their initial prices.