Reddit filed for an IPO to trade on the New York Stock Exchange, reporting $90.8 million in losses and revenue growth of 21% in 2023. The social media platform, in existence for almost two decades, faces the challenge of catching up to its more successful peers like Facebook and Twitter. Reddit plans to sell about 10% of its shares and has chosen Morgan Stanley and Goldman Sachs as lead underwriters. The company aims to list under the symbol RDDT, making it one of the most anticipated IPOs in recent years. This move comes after a deal with Google worth $60 million annually to use Reddit’s content for AI training. Excitement builds for Reddit’s market debut in March, signaling a potential shift in the IPO landscape.
Reddit Discloses $90.8M Loss in IPO Filing Ahead of Stock Debut, US
Date:
Updated: [falahcoin_post_modified_date]
More like thisRelated
Revolutionary Small Business Exchange Network Connects Sellers and Buyers
Revolutionary SBEN connects small business sellers and buyers, transforming the way businesses are bought and sold in the U.S.
District 1 Commissioner Race Results Delayed by Recounts & Ballot Reviews, US
District 1 Commissioner Race in Orange County faces delays with recounts and ballot reviews. Find out who will come out on top in this close election.
Fed Minutes Hint at Potential Rate Cut in September amid Economic Uncertainty, US
Federal Reserve minutes suggest potential rate cut in September amid economic uncertainty. Find out more about the upcoming policy decisions.
Baltimore Orioles Host First-Ever ‘Faith Night’ with Players Sharing Testimonies, US
Experience the powerful testimonies of Baltimore Orioles players on their first-ever 'Faith Night.' Hear how their faith impacts their lives on and off the field.
