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.

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.