Reddit files to list IPO on NYSE under the ticker RDDT

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.

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Hasnain says:

Kinda crazy to own so much to be called out here alongside big company investors

“Reddit has raised about $1.3 billion in funding and has a post valuation of $10 billion, according to deal-tracking service PitchBook. Publishing giant Condé Nast bought Reddit in 2006. Reddit spun out of Conde Nast’s parent company, Advance Magazine Publishers, in 2011.

Advance now owns 34% of voting power. Other notable shareholders include Tencent and Sam Altman, CEO of startup OpenAI.”

Posted on 2024-02-23T02:33:01+0000