General info on Reddit
About the company
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NameReddit
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IndustrySocial media, Advertising
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Employees501-1000
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Founding year2005
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TickerTBD
Filing Information
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IPO file dateDecember 2021
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No. of sharesTBD
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PriceTBD
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ExchangeNYSE
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BookrunnersTBD
IPO Details
About Reddit
Reddit is a California-based company running a social platform where users can discuss issues, share advice, and narrate experiences under dedicated communities or “subreddits.” The communities are monitored for malicious activity by Reddit moderators, who are not company employees.
The company was founded in 2005, and it’s one of the most popular websites, often called the “people’s forum.” Reddit came into the spotlight when the WallStreetBets subreddit members decided to buy GameStop and AMC Entertainment shares. Their move inflicted heavy losses on hedge funds that were shorting the stocks.
When is the IPO Happening?
There is no clear timeline of the roadshow or release of Reddit's IPO since hte filling with the Securities and Exchange Commission in December 2021. It is estimated to make its debut on the market in the second half of 2023, but no further updates have been announced.
Valuation
Reddit has a $10 billion valuation.
Reddit: what you need to know
- Reddit’s ad business grew by 112% in the last two years
- It is backed by prominent investors such as Khaira Capital, Tencent, Vy Capital, Fidelity Capital
- It raised $1.3 billion in funding over nine rounds
Sources: crunchbase.com, businessofapps.com, finance.yahoo.com
Summary
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TickerTBD
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PriceTBD
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ExchangeNYSE
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BookrunnersTBD
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