Business Reddit files to list IPO on NYSE under the ticker RDDT - Reddit are trying to sell stocks to jannies too while spez made 200 million last year lmfao

• Reddit on Thursday filed to go public.
• Its market 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.
• The social media company, founded in 2005 by technology entrepreneurs Alexis Ohanian and Steve Huffman, has raised about $1.3 billion in funding and has a post valuation of $10 billion, according to deal-tracking service PitchBook.

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.”

Its market debut, expected in March, will be the first major tech initial public offering of the year. It’s the first social media IPO since Pinterest went public in 2019.

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 social networking company’s core business is reliant on online advertising sales stemming from its website and mobile app.

The company, founded in 2005 by technology entrepreneurs Alexis Ohanian and Steve Huffman, 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 with a net loss of $158.6 million the year prior.

Reddit is one of the most-visited websites in the U.S., according to analytics firm Semrush, but it has struggled to build an online advertising business comparable to those of tech giants such as Facebook parent Meta and Google parent Alphabet.

Reddit has more than 100,000 communities, 73 million average daily active uniques, or DAUq, and 267 million average weekly active uniques, according to the filing. As of the fourth quarter of 2023, Reddit’s U.S. average revenue per user, or ARPU, was $5.51, down from $5.92 from the previous year. The company’s global ARPU was $3.42, which was a 2% year-over-year decline from $3.49.

Reddit said that by 2027 it estimates the “total addressable market globally from advertising, excluding China and Russia, to be $1.4 trillion.” Reddit said the current addressable advertising market is $1.0 trillion, sans China and Russia.

The company is building on its search capabilities and plans to “more fully address the $750 billion opportunity in search advertising that S&P Global Market Intelligence estimates the market to be in 2027.”

Reddit said it plans to use artificial intelligence to improve its ad business and that it expects to open new revenue channels by offering tools and incentives to “drive continued creation, improvements, and commerce.“

It’s also in the early stages of developing and monetizing a data-licensing business in which third parties would be allowed to access and search data on its platform.

For example, Google on Thursday announced an expanded partnership with Reddit that will give the search giant access to the company’s data to, among other uses, train its AI models.

In June, several prominent Reddit moderators locked subreddits as part of a blackout to protest the company’s decision to increase the price some third-party developers pay to use its application programming interface, or API, depending on their usage. At the time, Reddit said the pricing change was necessary because many big tech companies were using data to train large language models.

“In January 2024, we entered into certain data licensing arrangements with an aggregate contract value of $203.0 million and terms ranging from two to three years,” Reddit said, regarding its data-licensing business. “We expect a minimum of $66.4 million of revenue to be recognized during the year ending December 31, 2024 and the remaining thereafter.”

Reddit appears to be investigating a business strategy akin to that of Roblox, which derives the bulk of its revenue from digital sales on its social gaming platform, and online retailer eBay. The company wants to introduce more features to create a user economy that could include games, according to the filing. Reddit said there are currently informal exchanges of physical and digital goods and services that may create another line of revenue.

Reddit will offer three classes of stock with different voting shares. Class A stock will come with one vote per share. Class B shares will come with 10 votes per share and can be converted at any time into one share of Class A stock. Class C shares have no voting rights.

Reddit said that its non-employed moderators, known as Redditors, can participate in the company’s IPO offering through its “directed share program.” Because of this, Reddit said there’s a possibility of “individual investors, retail or otherwise constituting a larger proportion of the investors participating in this offering than is typical for an initial public offering.” Reddit said it had an average of more than 60,000 daily active moderators in December 2023.

“These factors could cause volatility in the market price of our Class A common stock,” the company warned.

Regarding risks, Reddit said its daily active unique figures “may fluctuate or decrease in one or more markets from time to time due to various factors.”

“For example, although we saw increased growth in our user base during the COVID-19 pandemic, we experienced lower levels of DAUq growth and declining DAUq as the effects of the COVID-19 pandemic subsided,” the filing said. “DAUq has also declined in the past in periods following usage peaks surrounding certain worldwide events, such as the onset of the conflict between Russia and Ukraine in the three months ended March 31, 2022, and cultural trends, including video game releases, such as Elden Ring in the three months ended March 31, 2022, and traffic related to r/wallstreetbets in the three months ended March 31, 2021.”

Reddit first filed a confidential draft of its public offering prospectus with the Securities and Exchange Commission in December 2021. The company has an employee headcount of 2,013 as of December 31, 2023, which was up from 1,942 during the previous year.

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.

https://www.cnbc.com/2024/02/22/reddit-files-to-list-ipo-on-nyse-under-the-ticker-rddt.html (Archive)

Message some jannies received trying to sell stocks to them:

Hello,

TL;DR: – you're invited to a special program that lets redditors purchase stock at the same price as institutional investors when we IPO. Details about eligibility and next steps follow. This (long, dense) message has all the info we can provide due to legal restrictions.

As you may have heard, Reddit has taken steps toward becoming a publicly traded company with the initial public filing of our registration statement with the U.S. Securities and Exchange Commission on February 22, 2024. Yes, it's happening.

And because you have helped make Reddit what it is today, you now have the opportunity to become Reddit owners at the same price as institutional investors.

We're offering a Directed Share Program (“DSP”) that invites eligible users and moderators who have contributed to Reddit to participate in our initial public offering (“IPO”). (Including you!)

Program Requirements​

While being selected to pre-register is the first step, there are certain legal and regulatory requirements to participate in the DSP that are outside of Reddit's control. Bear with us here…

To be eligible for the DSP, you must:

• Be a current U.S. resident;

• You will be asked to provide the DSP Administrator a valid social security or permanent resident number, along with other personal information. Reddit will not have access to this data.

• Please note that U.S. residents using a VPN may face application limitations if the VPN locates them in certain non-U.S. jurisdictions.

• Be at least 18 years old;

• Provide your full legal name and an email address;

• Not be a current or former Reddit employee (FTE).

When the DSP launches (a few weeks after pre-registration ends), individuals who have been confirmed for the program will be contacted by our external DSP Administrator. You will then be asked to provide additional information securely to the DSP Administrator to confirm your eligibility.

How to pre-register​

The number of people who can participate in the DSP is limited; we will offer this opportunity to as many redditors as we are able to accommodate. If capacity is reached before the deadline, you will be added to the waitlist. Based on demand, we may also limit the number of shares available.

If you are interested in being part of Reddit's DSP, please go to https://reddit.com/dsp on desktop to complete the pre-registration form. If you are one of the confirmed participants, we will follow up with an email with more details in the coming weeks. You can also refer to the Frequently Asked Questions for more information. Due to regulatory restrictions (yeah… we know…), we are not able to respond to further inquiries or questions.

Pre-registering does not guarantee that you will be invited or able to participate in the DSP; it also does not obligate you to purchase shares.

As with any investment opportunity, you should make an individual decision based on your own personal circumstances and risk tolerance. Therefore, we urge you to review the preliminary prospectus, when available, before deciding whether to invest in Reddit.

The deadline for pre-registering for the DSP is March 5, 2024. If capacity is reached before the deadline, you will be added to the waitlist.

What happens next?​

While there won't be a confirmation email immediately after you pre-register, everyone who pre-registers will receive an email in the coming weeks from “noreply@redditmail.com” telling them whether they can proceed with the next steps for the DSP.

This is an automated message (beep, boop, beep) and does not receive replies. Please refer to the FAQ for more information. Per our lawyercats, we are not able to respond to further inquiries or questions.

Prospectus and Important Disclosures

*The offering will be made only by means of a prospectus. When available, a copy of the preliminary prospectus related to the offering may be obtained from:

Morgan Stanley & Co. LLC, Prospectus Department, 180 Varick Street, New York, New York 10014, or email: prospectus@morganstanley.com; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316, or email: prospectus-ny@ny.email.gs.com; J.P. Morgan Securities LLC, Attention/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone: 1-866-803-9204, or email: prospectus-eq_fi@jpmorgan.com; and BofA Securities, Inc., NC1-022-02-25, 201 North Tryon Street, Charlotte, North Carolina 28255-0001, Attention: Prospectus Department, telephone: 1-800-294-1322, or email: dg.prospectus_requests@bofa.com.*

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This notification shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

No offer to buy the securities can be accepted and no part of the purchase price can be received until the registration statement has become effective, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time prior to the notice of its acceptance given after the effective date. An indication of interest in response to this notification will involve no obligation or commitment of any kind.

Spez made almost 200 million last year too:



And it's important for the jannies to do it for free:



SEC filing attached and can be found here: https://www.sec.gov/Archives/edgar/data/1713445/000162828024006294/reddits-1q423.htm (Archive)

 

[Rudolf's Friend]

There was a (brief) period where Reddit could be a fun site. I’m older and I can’t even remember how long ago that was. Over a decade ago at least. I remember a lot of the big subreddits even trending somewhat conservative in the comments. Then slowly the power troons took over each subreddit one by one.

You can blame r/SRS for that one, which goes back to SA, which goes back to the BitingBeaver Raids, so really you can blame BitingBeaver and her wanting to abort her son for masturbating for all of this.

 

[soulgains]

The fact they’re trying to get their jannies to buy into the stock scheme is proof this is a pump and dump and their financial situation is grim. They’re only going IPO as one last fleece before it’s sold off.

Question should be: what happens next? If Reddit collapses or closes or whatever, where does the user base go? Do forums make a comeback? Or will some equally-pozzed (maybe even more so) alternative spring up?

This site is the last stand of forums, I can't see forums making a large scale come back even in the absence of reddit. It'd be cool if the useful, informational subs spun off into their own sites, like r/The_Donald did.

 

[Glowie]

They're easy to weed out, I don't think they'd last very long.

Just wait for the thread about benefits of gooning and cuckoldry.

 

[Inflatable Julay]

I will short reddit on principle

 

[Top Skink]

>shameless begging for money program
>called DSP

 

[Abella]

I would hope that them going public meant they’d do what tumblr did and axe all the pornography subreddits, especially the depraved shit they host. I also wonder how the professional dog walkers are going to manage to buy stocks. Will they be rationing their HRT and cutting down on the amount of nerd crap they buy every month?

I think the thing that really amuses me is the idea of axing the power mods who run multiple popular subreddits like bardfinn and gallowboob. Gallowboob’s just a fag that steals content, but bardfinn is part of a bigger problem that reddit has with censorship since he and his cronies have used unscrupulous means to take down subs they don’t like.

 

[Kane Lives]

There was a (brief) period where Reddit could be a fun site. I’m older and I can’t even remember how long ago that was. Over a decade ago at least. I remember a lot of the big subreddits even trending somewhat conservative in the comments. Then slowly the power troons took over each subreddit one by one.

The thing is, I don't think it'd have lasted, even if you had sympathetic admins (real rainbows there) and nobody trying to subvert the system. The entire structure of reddit was flawed. The upvote system ensured that content was selected and promoted based on the majority, and for the majority, and lol fuck you if you don't hew to the hivemind. The moderation structure was a joke, with a seemingly inflexible tiered system where there is no recourse to remove a rogue admin at all. The fact that powermods were allowed to exist, and control hundreds of subs with no repercussions were never addressed.

It was a system doomed to fail.

 

[High-Fructose Corn Syrup]

There was a (brief) period where Reddit could be a fun site. I’m older and I can’t even remember how long ago that was. Over a decade ago at least. I remember a lot of the big subreddits even trending somewhat conservative in the comments. Then slowly the power troons took over each subreddit one by one.

Reddit was a good site in the early 2010s. It slowly started going downhill around 2014 to 2016 when all the early woke, gamergate and blm stuff started getting traction. Of course once Trump came around and the 2016 election came into full swing it pretty broke that site and the United the right rally gave the admins all the reason they needed to start purging.

 

[RotPockets]

Die a thousand deaths Reddit, seriously fuck your life you repugnant faggots.

Spoiler: NSFL

Reddit, Aimee Challenor and a disturbing insight into the trans debate.

Massive subs all go private to protest Reddit’s hiring of a pedophile enabler.

 

[Pixy]

Probably Twitter, or one of the Twitter alts like Threads just like what happened when Tumblr had it's porn ban. ResetEra is another place I could see them going to as well if they aren't already there.

There's already two alts set up that have gained traction in the aftermath of the API fee hike - one's called Lemmy, the other's name eludes me.

 

[High-Fructose Corn Syrup]

I guess they could always go to Digg or Newgrounds. Hell, why not? Reddit is old hat anyway, they may as well sign up for Friendster or MySpace while they're at it.

The funny thing is that the only reason reddit ever got as big as it did was the initial influx of people from digg after digg destroyed their entire site with their revamp.

 

[Green Man]

Question should be: what happens next? If Reddit collapses or closes or whatever, where does the user base go? Do forums make a comeback? Or will some equally-pozzed (maybe even more so) alternative spring up?

They'll spill out across the internet and undoubtedly be the next wave of terribly unwanted fucking refugees floating over on doors to any site that doesn't gatekeep hard enough or close registrations as a result, a bit like when Tumblr said "hey guys can you stop posting rape porn and feminist screeds alongside each other while discussing how much you want to get boned by the disembodied spirit of Dylan Klebold?" and they did just the same to the rest of the internet, to include Reddit. Reddit at one time leaned decidedly Lolbertarian and while it wasn't my cup of tea it was at least marginally less retarded than it is now. We've already had waves of Groyper refugees end up here as a result of ban waves on other platforms, hopefully none of them will come here since they think Kiwi Farms as an entity is exterminating troons. They'll certainly out themselves as a Redditor the very moment they say "yikes" or "y'all" or "educate yourself" or "it's called being a decent human being" or other classic Redditisms.

 

[LinkinParkxNaruto[AMV]]

This site is the last stand of forums, I can't see forums making a large scale come back even in the absence of reddit. It'd be cool if the useful, informational subs spun off into their own sites, like r/The_Donald did.

The thing is, I don't think it'd have lasted, even if you had sympathetic admins (real rainbows there) and nobody trying to subvert the system. The entire structure of reddit was flawed. The upvote system ensured that content was selected and promoted based on the majority, and for the majority, and lol fuck you if you don't hew to the hivemind. The moderation structure was a joke, with a seemingly inflexible tiered system where there is no recourse to remove a rogue admin at all. The fact that powermods were allowed to exist, and control hundreds of subs with no repercussions were never addressed.

It was a system doomed to fail.

Its pretty shitty that whenever a community gets burned on reddit they go off and make a reddit clone instead of realizing what makes reddit sucks in the first place, its designed to be shit and easily astroturfed for consensus.

Its why i am not optimistic for any forum resurgence, people who realize how much social media sucks are already not on social media and the rest just want to keep their fix going in a substitute that is the same as before, probably jumping to something even more cancerous with quicker dopamine hits like tik tok. Zoomers and gen alpha are specially a lost cause, they LOVE their botnet pozz and their malware, they already grew up with it and don't want or expect anything different. Reddit is more of a thing for soylleniaks that even normies don't use so it won't make much of a splash at all if it goes away.

 

[Kane Lives]

They'll spill out across the internet and undoubtedly be the next wave of terribly unwanted fucking refugees floating over on doors to any site that doesn't gatekeep hard enough or close registrations as a result, a bit like when Tumblr said "hey guys can you stop posting rape porn and feminist screeds alongside each other while discussing how much you want to get boned by the disembodied spirit of Dylan Klebold?" and they did just the same to the rest of the internet, to include Reddit. Reddit at one time leaned decidedly Lolbertarian and while it wasn't my cup of tea it was at least marginally less retarded than it is now. We've already had waves of Groyper refugees end up here as a result of ban waves on other platforms, hopefully none of them will come here since they think Kiwi Farms as an entity is exterminating troons. They'll certainly out themselves as a Redditor the very moment they say "yikes" or "y'all" or "educate yourself" or "it's called being a decent human being" or other classic Redditisms.

It's funny to think that KF has a nigger and troonkiller shield that filters out the unwashed redditors out.

 

[DYLAN ‘DIELAWN’ VOLK]

Are all the woman rapey subreddits still a thing? I'm gonna assume so.

 

[mlanguishi]

Its pretty shitty that whenever a community gets burned on reddit they go off and make a reddit clone instead of realizing what makes reddit sucks in the first place, its designed to be shit and easily astroturfed for consensus.

Its why i am not optimistic for any forum resurgence, people who realize how much social media sucks are already not on social media and the rest just want to keep their fix going in a substitute that is the same as before, probably jumping to something even more cancerous with quicker dopamine hits like tik tok. Zoomers and gen alpha are specially a lost cause, they LOVE their botnet pozz and their malware, they already grew up with it and don't want or expect anything different. Reddit is more of a thing for soylleniaks that even normies don't use so it won't make much of a splash at all if it goes away.

What's left though? Facebook and Youtube gave way to Youtube Shorts, which have failed imo. Tiktok ijust can't do it. I think the forum platform of medium form is probably the best. On here you can only quote so many lines. Threads, bssky, are going to fail because Twitter/X has the short form. The KF/AVSForum of old has the best long term viability to me. What's left? 10 second and 10 word posts? I hope not.

 

[Cpt. Stud Beefpile]

Are all the woman rapey subreddits still a thing? I'm gonna assume so.

Very much so.

/femoiddatingstrategy among them.

 

[Schwarzwald]

If I were given the choice between 100 shares of Reddit stock and a sack of magic beans and was told I had to wait 10 years to do anything with my choice, I'd have more faith in the magic beans to be worth anything.

 

[6thRanger]

What I want to know is why the fuck are all these "editorials" dicking Aaron Swartz

Because they are absolute pieces of shit avoiding any mention of him as that means talking about what happened to him. He was truly an important man, creating RSS, Creative Commons, Markdown and lending his name and mind to many projects and causes in tech. Regardless of what may be made of his politics, when it comes to information transparency and sharing, he was important.

Then at age 26 he was brought up on trumped up charges for mass downloading academic journals using a computer in an unlocked closet. He faced 35 years in prison and a million dollar fine or a plea. He didn't want to plead guilty. He then committed suicide.

This is NOT a tale that can see the light of day because it is a story that immediately radicalizes anyone who looks into it against the federal government. Child rapists and murderers routinely face less time.

Carmen Ortiz known "overkill" prosecutor is a piece of shit and I hope when she dies she rots in hell.

Aaron is largely forgotten by history because to confront what happened raises all kinds of questions.

 

[Aero the Alcoholic Bat]

And I thought buying euro Disney stock during the aughts was a stoopid idea.