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)

 

[Gottahavemysips]

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?

Somebody is going to buy out the platform for dirt cheap, mostly just for the SEO power. Ever since Google crippled their own algorithm (and most other search engines try to copy them), somehow reddit has become one of the few sites where you can actually hope to get something slightly relevant to your search, which is pretty grim.
This might be the most obvious short position to take in history, I was almost certain they'd all but cancelled any hope of an IPO in the short term, but this is way better than I was expecting. This directed share program is also incredibly retarded, redditors always seem to be perpetually poor as fuck. They've spent well over a decade cultivating the most retarded userbase, ruled over by the most retarded troons. The first order of business for any shareholder who wants to have a prayer of making a return should be to immediately demand the removal of the entire powermod team, they are a liability that have the potential to tank any moves at trying to being the platform to profitability. I guess nobody told them that all the venture capital that used to flow into tech has mostly dried up at this point? Investors are expecting profitable businesses, and they are currently getting bitten in the ass for buying into ridiculous concepts like DAUs somehow relating to profitability.

 

[Overly Serious]

I'm just a regular citizen with no real experience of share dealing and all that. But it seems I have about two weeks to learn how to short stocks.

 

[Heed Not]

I'm just a regular citizen with no real experience of share dealing and all that. But it seems I have about two weeks to learn how to short stocks.

Its such an obvious short that I'm sure Blackrock will eat retail shorters by pumping with their infinite money

 

[Kuritan Deplorable]

Somebody is going to buy out the platform for dirt cheap, mostly just for the SEO power.

Honestly, that's not even really the case anymore. Its been tried repeatedly with attempted relaunches of various other pilfered brands in the news media space, and decisively shows that SEO scavenging is useless for anything beyond a quick scam venture. There was some straight up speculation that google was purging the search engine of preferential behaviors to 'dead' names for a while, which makes some basic level of technical sense.

The SEO/Name sale cope dying companies like to grasp onto falls apart as soon as anyone thinks on it for more than a few minutes, if you search for "Reddit" not knowing it died and got replaced, and you load up the successor "Reddit" and end up on something that isn't reddit, you leave, you don't stay. Any SEO score starts to crash out as engagement flatlines, so you just paid a lot of money for something that rapidly becomes nothing. The only place name value has appeal is in advertising to markets with name recognition, but Reddit isn't a product, its a service in which its customers are the product. So there's no room to make people think "Oh the guys who made X are back lemme buy some", and no room to make a quick buck with chinesium fakes.

I'm just a regular citizen with no real experience of share dealing and all that. But it seems I have about two weeks to learn how to short stocks.

Doubt most people will even get the opportunity to. Shit goes to 'certified' investors before it becomes available on the retail market, so by the time the public can try to get in on it, there's a good chance that the price is already cratered. Your likely to lose any potential gains made on that position just in the broker fees and gains taxes.

 

[Tenshi Eating A Corn Dog!]

Well, if Reddit dies, will where the Redditors go?

 

[spacko]

Well, if Reddit dies, will where the Redditors go?

back to FARK

 

[Convallaria majalis]

Reddit’s swan song. I don’t know how admin thinks they’re going to turn a profit when the trannies have their balls in a vice and they’re associated with incel mass shooters. Wonder what’s going on in WallStreetBets.

 

[Super Dilator Duel 3D]

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?

I want to have my guess in writing for the future.

Spoiler: reddit prediction

I believe it’ll go similarly to the Fediverse/Bluesky situation with Twitter, but much worse. People bitched about Musk buying Xitter like it was the end of the world, and most promised to leave the site. This kickstarted alternatives like the Fediverse, which quickly attained userbases composed of two separate groups; retarded troons butthurt at Musk for taking their toy away and anime avatar pedophiles/political memers too edgy for regular Twitter. This inherent division and newly-created niche caused the former group to run back to Twitter, in most cases reluctantly spending money on the platform despite hating Elon Musk and “X” while the latter group stayed on the alternatives which continue to live on and develop despite the occasional trashfire.

Reddit will follow a similar timeline, however it will be greatly exacerbated by the amount of control Reddit gave to the retarded troons. Musk can tell the Twitter troons to fuck off and die. Their only recourse is to seethe and bitch at other trannies in very exclusive hugboxes. If Reddit shareholders tell the troons to fuck off, they shut down all of the most popular subreddits in protest ensuring that the site is now practically unusable. As we all know, there is no appeasing a troon, so this is going to end in disaster no matter what. The platform being now unusable will force the troons to alternatives, which will likely be like shittier, even more pozzed versions of forum software like Xenforo with a Reddit skin. Similarly to the Fediverse, these new sites will mostly be populated by people who were too edgy for regular Reddit and nobody but the most fanatical and bitter troons will use the others.

 

[Punished Brent]

Ok just this once.
Please Jewish bankers use your Talmudic magic to extract all capital and destroy Reddit

 

[RussianParasite]

at long last, I've been waiting forever to start shorting the blue fuck out of Reddit stock.

You and me both. However, I can see it gaining some ground in initial IPO hype before dying out. If you are going to short at least buy a call or two to hedge your position. I’ll probably do some short-term calls paired with a ton of puts in the later term.

It’s a company that has never turned a profit EVER. But never underestimate IPO hype.

 

[curbside2]

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.

 

[UtopiaGuy]

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?

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.

 

[Xarpho's Return]

Of everything, I'm most annoyed that their ticker symbol isn't going to be SNOO, although that's probably because it's too close to the Snoogoo Corporation.

Remember that a dead retailer (shell company with no more stores) and shares trading less than a penny shot up 1500% because their TWTRQ symbol was similar to the one Twitter was going to use. Going from less than a penny to fifteen cents would be great if you bought 10,000 shares at $.007 and sold them at peak. Your chump change $70 investment could turn into over $100k.

 

[Battlefield2142EU]

Why would anyone pay for a website that censors users and promotes troon shit?

Democrats, Nigger faggots, atheists and MAPS.

 

[GiveMeTheMoney]

Reddit could go under and most people wouldn't give a fuck. It's even more north Korea than it's ever been.

 

[MarvinTheParanoidAndroid]

I don't envy the retard that actually buys Reddit stocks.

 

[Schwarzwald]

They're relying on the part-time dogwalkers to buoy their propaganda-laden censored corporatized digital dystopia that has hemorrhaged money since inception so they can get out while the getting is good? That's not very wholesome Big Chungus Keanu 5000 of them, forcing those poor souls to choose between precious Reddit stock and this month's supply of bathtub hormones. Downright immoral and transphobic.

 

[BillTheButcher]

What I want to know is why the fuck are all these "editorials" dicking Aaron Swartz from reddits founder list? Checked a few writeups, and ZILCH. No trace of him.

Correct me if I'm wrong, but is he not a founder? Huffman turned into a spook in record timing.

 

[AirdropShitposts]

Ok just this once.
Please Jewish bankers use your Talmudic magic to extract all capital and destroy Reddit

There's capital to extract?

 

[Georgio Cocklord]

What we saw almost a year ago was the jannynacht. This might as well be the jannycaust. And just like the previous cause, Jews are involved in some capacity.