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Reddit was acquired by Condé Nast in 2006, soon after it launched in 2005. In 2011, Condé Nast spun out the site, while parent Advance Publications retained a minority stake.
At its IPO price, Reddit was valued at about $6.5 billion, a haircut from the company’s private market valuation of $10 billion in 2021, which was a boom year for the tech industry.
This includes Sam Altman, CEO of OpenAI, who will have 9.1% voting power after the Reddit IPO, while his shares (789,456 Class A and 11.4 million Class B) could be valued at $413.4 million if ...
Reddit CEO Steve Huffman earned $17 million in the IPO through the sale of 500,000 shares; the remaining 4.17 million shares he directly owns are subject to the lockup restriction.
Reddit plans to list 22 million shares at a price between $31 and $34, according to the latest version of the IPO prospectus it filed with the Securities and Exchange Commission. The company ...
Following the IPO, Reddit has a strong balance sheet, an important feature considering its inability to turn a profit so far. The company has nearly $1.5 billion in cash and equivalents, against ...
Reddit, which priced its IPO at $34 a share, debuted Thursday afternoon at $47 a share. The going price has climbed even higher since, with shares for the self-anointed “front page of the ...
Reddit, which revealed a net loss of $90.8 million in its IPO filing on Thursday, is more akin to the swaths of high-growth, money-losing companies that went public two years ago. It has ...