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)

 

[Owlbear]

Your question got into Approval Queue and while approving it I was thinking it over. I've come to the conclusion that Reddit saw /r/WallStreetSilver and the GameStop short squeeze and thought maybe they could get users to buy stock of the platform they use. They don't realize their users absolutely detest them and the mods they're shilling to also fucking hate them.

WSB users have been talking about their desires to short Reddit for years. The jannies hate Reddit Inc, but are too busy taking hormones to move off the platform. I doubt that both groups of people are going to be putting their money where their mouth is, though, and Reddit's IPO is going to be fine. Their stock is going to take a beating, but in a few years, the AI training grounds will be accepted.

 

[Jaimas]

He has been doxed thoroughly. His name is Steven Joel Akins. He is a wife beater.

This is what he looks like:
View attachment 5758897
Does that look like a woman?

Man, Enki from Fear and Hunger really let himself go after the ending.

 

[reptile baht spaniard rid]

gamble, idiots

exactly. or buy one share, and continually avail yourself of every annoying thing a shareholder can do, and there are a decent number of them.

 

[Cheeseknife]

Meanwhile, all the insiders are dumping stocks:

 

[Sweeter and Savoury]

I don't think anyone is doubting that the US stock market is highly inflated and due for a correction.

I thought it would have burst last year but the Biden crew has cranked out so much money and dumped it into the system that it makes predicting when the bubble with burst very hard.

The Biden Administration has a vested interest in making sure Wallstreet don't go pop on their watch and they are dumping currency into the "right" hands to make sure green number go up.

I personally limited my expose a few years ago, while that may have been the wrong call, but working off of history doesn't really help you when everything is going all clown world.

For those actually investing in the market at this time I will give the same advice. Invest in good solid company who produce a needed product, have a good business history and pay a dividend and then just hold until the world comes back into sense.

 

[Absurdist Laughter]

Meanwhile, all the insiders are dumping stocks:

I've gone to cash as well, it is pretty common to reduce risk on green investments when faced with economic uncertainty. It just makes a good Thumbnail and video title. NQ and ES both made new all time highs since the Covid Crash. Problem with that is there are economic factors that I only understand at a surface level that is indicating we are in for more turbulence. Especially an election year with an uncertain future. We are probably going to have another hike in interest rates again. I'm of the mind the powers that be are attempting to delay rate hikes until after the elections to the benefits of the democrats rather than the good of the economy.

 

[Cheeseknife]

We are probably going to have another hike in interest rates again

Exactly what he says in the video.

 

[Absurdist Laughter]

Exactly what he says in the video.

Huh, guess my intuition isn't as bad as I thought.

 

[kim foxx]

We are probably going to have another hike in interest rates again.

i think its unlikely. the paper economy is completely divorced from the real economy and the only way to make the numbers keep on going up is to go back to ZIRP. there is no more economic growth without either 1) running 1.7 trillion deficits like the biden regime has been doing or 2) free money from the fed. either way inflation is going to continue to skyrocket. hope you've stocked up on inflation-resistant assets because number has to keep on going up

 

[AmazingEagle]

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

Twitter if they don't shut down the border.

 

[Glowie]

I slip away from this thread to glow and Redditors hop the wall. Redditors can't resist to shit on their former home can they?

 

[Tanner Glass]

One thing that can't get me the stop scratching my head is why the hell would they want money from Reddit mods? they know they got not a dime to their name
Even if they give them a few dollars here and there how long do you think till the stock craters?
It scares me to think of all the fags jumping from Reddit to other places

Reddit mods/powerusers have to be some of the most gullible users on the entire internet. Reddit mods are literal janitors who for two decades have been giving free labor to a company worth (20 million to 10 billion depending on the year). They are hyper invested in the platform and would buy into some nonsense like this.

Additionally - Reddit has probably been searching for more upscale investors for ~5 or so years now and come up empty. Now that the value is falling they don't really care who buys it as long as someone does.

They do it for free is going to be the old mantra - it's going to get upgraded to they pay for the privilege.

 

[kim foxx]

One thing that can't get me the stop scratching my head is why the hell would they want money from Reddit mods? they know they got not a dime to their name

I know of at least one reddit powermod who is a director of engineering for a well known payment processor. While the majority might be broke, when you go whalefishing all you need are a handful to bite.

 

[AnOminous]

They do it for free is going to be the old mantra - it's going to get upgraded to they pay for the privilege.

They should make the utterly insane superjannies pay for every ban.

 

[YukariTakeba]

I'll probably get a bunch of rainbows for this... but it would be hilarious if the shareholders dragged admins over the coals for all the woke shit. The more woke shit they push, the worse the stock does, and the more the admins get reamed.

Hopeful thinking. Unfortunately investors refer to ESG scores like a biblical text. If anything the platform becomes more woke, not like it hasn't been on that streak since the fappening.

 

[HOMO FOR LIFE RETURNS]

They do it for free is going to be the old mantra - it's going to get upgraded to they pay for the privilege.

Holy shit I can't breathe.

Also, Lol jannies in the negatives.

 

[Berrakh]

Trust the plan, Jannies.

 

[Cheeseknife]

Reddit mods/powerusers have to be some of the most gullible users on the entire internet. Reddit mods are literal janitors who for two decades have been giving free labor to a company worth (20 million to 10 billion depending on the year). They are hyper invested in the platform and would buy into some nonsense like this.

Additionally - Reddit has probably been searching for more upscale investors for ~5 or so years now and come up empty. Now that the value is falling they don't really care who buys it as long as someone does.

They do it for free is going to be the old mantra - it's going to get upgraded to they pay for the privilege.

Every commie will eventually discover there's a price for utopia.

 

[Pedophobe]

Honestly, charging money to be a moderator is probably the best route to profitability Reddit has.

 

[Monkey Sea Monkey Drown]

Honestly, charging money to be a moderator is probably the best route to profitability Reddit has.

Money is speech and corporations are people, after all

we have always been at war with Eastasia and men are women, too. Double plus good.