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.

  • otp@sh.itjust.works
    link
    fedilink
    arrow-up
    4
    ·
    9 months ago

    Living is best life.

    Living is indeed best life! Of course, living is only life. But only life is best life.

    • Krauerking
      link
      fedilink
      arrow-up
      3
      arrow-down
      1
      ·
      9 months ago

      Why do I hear this in the voice of the Chamberlain in Dark Crystal?