public offering, Reddit’in It is part of its future growth plans and aim to become an even more important player in the technology world. This opportunity offered to users also aims to reinforce their commitment to the platform and strengthen the sense of belonging of being a part of the Reddit community.
For years Following ongoing speculation, Reddit IPOs on New York Stock Exchange (IPO) He submitted official documents for. While the company plans to use RDDT as its stock symbol, it will also offer the opportunity to buy shares to some users who have been on the platform for a long time.
Reddit’in CEO’su Steve Huffman, Longtime users feel a “deep sense of ownership” over their communities on the platform, the company noted in its S-1 filing with the SEC. “We want this sense of ownership to be reflected in true ownership – for our users to also be our owners,” Huffman wrote. With this in mind,
Reddit’e contributing users and moderators together with our investors
IPO’muzda We are excited to invite you to purchase shares.”
Reddit is going public, offering long-time users the opportunity to buy shares
The company did not provide information about the number of users who can participate, but it will be determined according to the karma scores of eligible users. “moderator their contributions to membership and moderator He stated that he will be measured by his actions.
Filing, Reddit’in It also provides new details about its operation. The company attracted 500 million visitors in December and recently surpassed an average of 73 million daily “active unique” visitors. In 2023, the company earned $804 million in revenue (Reddit has not yet made a profit). The document also states that the company is “exploring” deals with AI companies to license its content as it aims to expand its revenues in the future.
Later in the day, Reddit It was announced that Google and Google signed an agreement worth approximately $60 million annually. The company said, “Our growing platform data, leading large language models (‘LLM’) “We believe it will be a key element in education and create an additional monetization channel for Reddit,” he wrote.
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