The company has never recorded a profit, which is fine for companies that are growing but it does make its money-making prospects uncertain because at the end of the day it’s just a super-duper forum. Reddit is definitely very niche as much as it is valuable to its community, but it can hardly compete with the major social networks such as Facebook, Instagram and YouTube, although perhaps it doesn’t need to. Co-founder Alexis Ohanian, who owns stakes in a bunch of other businesses, has an estimated net worth of $70 million thanks to several successful investments into companies like Coinbase IPO, Opendoor IPO and Instacart IPO through Initialized Capital, a venture capital firm he co-founded in 2016. Steve Huffman’s net worth is estimated at $10 million, which came from the sale of Reddit for a reported $10-20 million. Hopefully, we’ll learn more about their IPO date and information about the IPO process very soon. It is customary for tech and social media companies to launch their IPO on Nasdaq, but if the company does decide to go public through Vy Global Growth (VYGG), the starting stock price will be at around $10 and Reddit will be listed on the NYSE. The Reddit IPO price and other details like the stock symbol etc. Reddit IPO Date: TBA Ticker: N/A Exchange: Nasdaq (TBC) IPO stock price: N/A Valuation at IPO: $10-15 billion (estimated) Market cap: N/A CEO: Steve Huffman Category: Social Media Stocks Listing method: TBAĪt the beginning of 2022, Reddit was expected to go public in March, but it’s likely to be postponed because of the conflict in Ukraine. Reddit Public Listing Key Data and IPO Date Read on to find out about Reddit IPO date and price and other key info. SPACs let companies go public faster and cheaper but may have some limitations too, so Reddit’s management may still decide to launch a traditional IPO. But we are yet to see how the listing will happen. The company’s CEO Steve Huffman is on the Board of Vy Global Growth (VYGG), and COO Jen Wong is on the board of a SPAC recently formed by Group Nine. There is some speculation about this going round on Reddit itself, on the r/SPAC sub. The Reddit IPO filing was confidential, so we are yet to find out more details about the way they are planning to launch. When companies decide to go public, they either do it directly or by merging with a special acquisition company (SPAC), a company created specifically for the purpose of helping private companies go public. The company filed for an IPO in December 2021, aiming for a valuation of over $15 billion.Īround 42-50% of Reddit’s user base comes from the US, 8% from the UK and 5-8% from Canada. Several funding rounds later, most recently after a $700 million round led by Fidelity in August 2021, Reddit’s valuation rose to over $10 billion. In 2011, Reddit became independent as part of Condé Nast’s parent company, Advance Publications. In 2006, the site was acquired by Condé Nast Publications, a major US media company. The company was founded in 2005 by Steve Huffman and Alexis Ohanian, two roommates studying at the University of Virginia. The subreddit WallStreetBets was responsible for launching the meme popularity of GameStop, AMC and other stocks in January 2021 in an attempt to stick it to the large hedge funds that tried to profit from the slowly falling prices. In fact, Reddit is a key social network for retail investors to exchange advice and ideas. One of the most interesting places to interact on any subject, from psychology and self-help communities to politics, games, memes, and hilarious videos of animals like AnimalsBeingConfused, Reddit has it all.
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