Reddit's debut will mark the first major tech initial public offering of the year and the first social media IPO since Pinterest went public in 2019.

Social media company Reddit filed its IPO prospectus with the Securities and Exchange Commission on Thursday after a yearslong run-up. The company plans to trade on the New York Stock Exchange under the ticker symbol “RDDT.”

Reddit said it had $804 million in annual sales for 2023, up 20% from the $666.7 million it brought in the previous year, according to the filing.

The company said it has incurred net losses since its inception. It reported a net loss of $90.8 million for the year ended Dec. 31, 2023, compared to a net loss of $158.6 million the year prior.

Its market debut, expected in March, will mark the first major tech initial public offering of the year. It’s the first social media IPO since Pinterest went public in 2019.

Reddit first filed a confidential draft of its public offering prospectus with the Securities and Exchange Commission in December 2021.

  • mommykink@lemmy.world
    20·
    9 months ago

    Make sure what tanks? The IPO for reddit? The website whose CEO was a moderator on r/jailbait, the community for sexualizing minors?

    • loobkoob@kbin.social
      17·
      9 months ago

      The website whose CEO was a moderator on r/jailbait, the community for sexualizing minors?

      I thoroughly dislike spez, and I think there are a lot of reasons to be critical of him, but this isn’t one of them. He was made a moderator of /r/jailbait at a time when people could be added as moderators without being notified or needing to accept any kind of invitation.

      I’d rather see him criticised for the many awful things he’s said and done over the years than for some non-reason like that.

      • SuperDuper@lemmy.world
        13·
        9 months ago

        Cool, now explain away his decision to make a custom award specifically for the main mod of jailbait.

        Also, fuck no I’m not giving him the benefit of the doubt over his own jailbait moderator status. No way he and the rest of the staff were not aware of that at any time.