Business Reddit files to go public - Reddit on Wednesday announced that it has confidentially submitted a draft registration statement with the Securities and Exchange Commission to go public.

• Reddit on Wednesday announced that it has confidentially submitted a draft registration statement with the Securities and Exchange Commission to go public.
• The social media company announced the filing, but it did not make the filing publicly available.
• Most recently, the company announced that it had raised a $700 million round in August 2021 at a valuation of more than $10 billion.

Reddit on Wednesday announced that it has confidentially submitted a draft registration statement with the Securities and Exchange Commission to go public.

The social media company did not make the filing publicly available. The company also did not say how many shares would be offered nor the price range for the proposed offering.

Although Reddit was created in 2005, it has taken a unique road toward going public.

Conde Nast Publications acquired Reddit in 2006. The social media services remained a part of the publication company until it was made an independent subsidiary in 2011. Since then, it raised a series of funding rounds from venture capital firms.

Most recently, the company announced that it had raised a $700 million round in August 2021 at a valuation of more than $10 billion.

At the time of that funding round, the company said that it had reached $100 million in advertising revenue during the second quarter of 2021, up 192% from a year prior.

Reddit files to go public

Reddit on Wednesday announced that it has confidentially submitted a draft registration statement with the Securities and Exchange Commission to go public.

www.cnbc.com

Reddit files to go public

archived 16 Dec 2021 04:15:08 UTC

archive.md

 

[Spicey McHaggis]

Is $100 million in ad revenue a quarter even enough to cover their operating expenses? I always got the feeling reddit is like early YouTube, aka make a product, get a ton of money and users behind it, then sell it and let someone else figure out if it can ever be profitable.

 

[Finder]

May everyone involved lose any money invested and may reddit die a slow, painful death.

 

[Billy Beer]

The deathroes of Reddit? The first bubble burst? Majority stake to be held by more Indians?

 

[The handsome tard]

When Reddit dies because its a pedophile ring site

 

[reptile baht spaniard rid]

Is $100 million in ad revenue a quarter even enough to cover their operating expenses? I always got the feeling reddit is like early YouTube, aka make a product, get a ton of money and users behind it, then sell it and let someone else figure out if it can ever be profitable.

Considering conde nasty bought them and then got rid of them faster than they did PeterB I think it says something about just how "valuable" it is. This IPO is just a slow motion rug pull.

 

[Open Window Maniac]

How much reddit gold will you get if you buy any stock?

 

[Pikonic]

Where will the Redditors go once their site goes tits up? How many refugees are we allowing in? Will they go back to Digg? Will Reddit bros just accept Reddit is basically tumblr and just go there?
Only time will tell.

 

[glad vlad]

Goodbye to politicalcompassmemes.

What will they do about all of the degenerate porn subs?

 

[Sweet and Savoury]

It will just end up like Twitter

An endless dump for money as long as they toe the proper line and make sure the wrong views are "not encouraged".

 

[Secret Messages]

wait a week for the initial pump to lose steam, buy next years puts, laugh all the way to the bank.

 

[NoReturn]

If I wasn't so sure he'd already reincarnated into a cat or something I'd say Aaron Schwartz would be spinning in his grave.

 

[Johan Schmidt]

Buy a majority share; then ban all trannies, fags and normies.

 

[Eternal Gopnik]

If I wasn't so sure he'd already reincarnated into a cat or something I'd say Aaron Schwartz would be spinning in his grave.
View attachment 2807099

I can't help but wonder what he'd be like today - if he stood behind his beliefs or if he'd hop on the woke train and went all "hate speech isn't free speech". What was that quote - better die a hero than see yourself become a villain?

 

[Pill Cosby]

Reddit goes public and the Jannies will continue to seeth and dilate unpaid.

 

[TurdFondler]

This was super, super obvious about a year or two ago. They started funneling the site to primarily an app based experience, persistent user accounts and avatars, monetization avenues and they really amped up the jannying.

It's going to just turn into a vehicle for ads, more than it is now.