FILE - The Reddit app icon is seen on a smartphone, Feb. 28, 2023, in Marple Township, Pa. Reddit is due to begin trading on the New York Stock Exchange on Tuesday, March 21, 2024. FILE - The Reddit logo is displayed on a mobile device in New York, June 29, 2020. Reddit, that vast, lively and sometimes borderline shambolic repository of internet discussion, said Monday, March 11, 2024, that its pending initial public offering may be worth almost three quarters of a billion dollars.
The interest surrounding Reddit stems largely from a large audience that religiously visits the service to discuss a potpourri of subjects that range from silly memes to existential worries, as well as get recommendations from like-minded people. By the tech industry’s standards, Reddit remains extraordinarily small for a company that has been around as long as it has.
In the recent documents filed for its revived IPO, Reddit attributed the losses to a fairly recent focus on finding new ways to boost revenue. The company also is hoping to bring in more money by licensing access to its content in deals similar toThe increasing level amount of e-commerce transacting on the platform also has Reddit’s management exploring ways to get a piece of the action, according to its IPO filing. “We believe that over time, we can generate revenue based on the volume of commerce that is conducted on Reddit,” the company said in the documents without elaborating on how that might be accomplished.