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Reddit went public in 2024 and is a more popular, profitable site than ever in its 20-year history. BI spoke to 11 Reddit employees about the new challenges and maintaining its beloved culture.
Reddit chases a $6.5 billion valuation as the IPO ... 2024 at 6:00 AM ... About one-third of the proceeds will be used to pay taxes associated with the holding costs of stocks awarded to employees ...
Reddit reported a net loss of $90.8 million in 2023, an improvement from the $158.6 million loss it netted in 2022. The company’s sales in 2023 reached $804 million, up 21% from $666.7 million ...
The partnership also lets Reddit get access to Google's "Vertex AI" service which would help improve search results on Reddit. [82] [83] In March 2024 it was announced that Reddit would target a valuation of up to $6.4 billion in its U.S. IPO. The platform intends to sell 22 million class A common shares at a price between $31 and $34 alongside ...
Steve Huffman, Reddit's CEO. On April 18, 2023, Reddit announced it would charge for its API service amid a potential initial public offering. [6] Speaking to The New York Times ' Mike Isaac, Reddit CEO Steve Huffman said, "The Reddit corpus of data is really valuable, but we don't need to give all of that value to some of the largest companies in the world for free".
Reddit has temporarily banned one of its communities - and removed another - after X owner Elon Musk claimed comments made by the site's users about his employees were breaking the law. The r ...
Altman at the 2024 World Economic Forum. For eight days in 2014, Altman was the CEO of Reddit, a social media company, after CEO Yishan Wong resigned. [66] [67] He announced the return of Steve Huffman as CEO on July 10, 2015. [68] He remained on its board until 2022. [69] Altman invested in multiple rounds of funding Reddit, in 2014, 2015, and ...
In 2015, federal agents [who?] requested Reddit employees to turn over the personal information of several users active in r/DarkNetMarkets, a darknet market discussion forum. [78] [79] The federal investigation's focus was illegal sales of drugs, weapons, and stolen financial details. [79] This subreddit was banned on March 21, 2018. [80] [81]