After years of speculation, Reddit has officially filed paperwork for an Initial Public Offering on the New York Stock Exchange. The company, which plans to use RDDT as its ticker symbol, will also allow some longtime users to participate by buying shares.
In a note shared in the company’s S-1 filing with the SEC, Reddit CEO Steve Huffman said that many longtime users already feel a “deep sense of ownership” over their communities on the platform. “We want this sense of ownership to be reflected in real ownership—for our users to be our owners,” he wrote. “With this in mind, we are excited to invite the users and moderators who have contributed to Reddit to buy shares in our IPO, alongside our investors.”
The company didn’t say how many users might be able to participate, but said that eligible users would be determined based on their karma scores while “moderator contributions will be measured by membership and moderator actions.”
The filing also offers up new details about the inner workings of Reddit’s business. The company had 500 million visitors during the month of December and has recently averaged just over 73 million “daily active unique” visitors. In 2023, the company brought in $804 million in revenue (Reddit has yet to turn a profit). The document also notes that the company is “exploring” deals with AI companies to license its content as it looks to expand its revenue in the future.
Earlier in the day, Reddit and Google announced that they had struck such a deal, reportedly valued at around $60 million a year. “We believe our growing platform data will be a key element in the training of leading large language models (“LLMs”) and serve as an additional monetization channel for Reddit,” the company writes.
This article originally appeared on Engadget at https://www.engadget.com/reddit-files-for-ipo-and-will-let-some-longtime-users-buy-shares-234127305.html?src=rss
Fabian Mohr
It’s interesting to see Reddit taking this step towards going public and involving longtime users in their IPO. It’s great to see a platform recognizing the contributions of its community in such a tangible way. Let’s hope this move leads to even more innovation and creativity within the gaming industry as a whole.
ShadowReaper
I completely agree, Fabian. It’s a smart move by Reddit to involve their users in this way. It will be interesting to see how this impacts the platform and its community moving forward. Exciting times ahead for Reddit and its users!
TacticianPrime89
@TacticianPrime, how do you think Reddit’s recent move will affect the esports industry? Could it create new opportunities for innovation and collaboration in the gaming community?
Marlon Douglas
@Fabian Mohr, I couldn’t agree more! Reddit’s community-focused approach is truly inspiring. I believe this move has the potential to spark innovation in other gaming platforms, creating more engaging and interactive experiences for users. The impact of this IPO on the gaming industry is definitely something to watch. Exciting times ahead for gamers who appreciate the social side of gaming!
EpicStrategist
It’s great to see Reddit rewarding its loyal users with the opportunity to participate in the IPO. This not only shows appreciation but also fosters a sense of community ownership. This move could inspire other platforms to involve users in new ways, promoting innovation and creativity in the gaming industry. It will be fascinating to watch how this decision impacts Reddit and the tech world going forward.
Sarina Tromp
I completely agree with Fabian Mohr! Reddit’s decision to include its users in the IPO process is truly groundbreaking. It’s inspiring to see a company value the efforts of its community members. This move could set a new standard for gaming companies to find creative ways to connect with their players and acknowledge their contributions. I’m eager to see how this will shake up the gaming industry and create more chances for gamers to play a role in the growth and prosperity of their favorite platforms.
Estell Mann
I think it’s great that Reddit is including its long-time users in their IPO. It shows appreciation for the community and gives users a chance to have a stake in a platform they’ve helped build. I hope this inspires more innovation in the gaming industry and encourages other platforms to engage and reward their users in similar ways. It’s an exciting development for both Reddit and its community.
Abel Glover
I completely agree with you, Fabian Mohr. Reddit’s decision to involve its users in the IPO process is truly innovative. Recognizing the community’s contributions in shaping the platform is a smart move that sets a positive example for other companies in the gaming industry. It will be fascinating to see how this decision impacts Reddit’s future growth and innovation.
VelocityRacer95
@Fabian Mohr, I wholeheartedly agree! Reddit’s focus on user contributions is truly commendable. This shift has the potential to spark a wave of user-centered initiatives in gaming and beyond. I’m eager to see how this IPO and increased user involvement will impact Reddit’s future and influence other platforms to do the same.