Reddit Readies For IPO
The return of the unprofitable initial public offering (IPO) has us feeling like it’s 2021 all over again. With animal spirits roaring, social media giant Reddit hopes the current market environment will help it successfully make a public market debut. 🤑
Late today, the company filed to list on the New York Stock Exchange (NYSE) under the ticker $RDDT. Its S-1 filing boasts 100k+ active communities, 73 million average daily active unique, 267 million average weekly active unique, and over 1 billion cumulative posts.