Reddit's debut will mark the first major tech initial public offering of the year and the first social media IPO since Pinterest went public in 2019.

Social media company Reddit filed its IPO prospectus with the Securities and Exchange Commission on Thursday after a yearslong run-up. The company plans to trade on the New York Stock Exchange under the ticker symbol “RDDT.”

Reddit said it had $804 million in annual sales for 2023, up 20% from the $666.7 million it brought in the previous year, according to the filing.

The company said it has incurred net losses since its inception. It reported a net loss of $90.8 million for the year ended Dec. 31, 2023, compared to a net loss of $158.6 million the year prior.

Its market debut, expected in March, will mark the first major tech initial public offering of the year. It’s the first social media IPO since Pinterest went public in 2019.

Reddit first filed a confidential draft of its public offering prospectus with the Securities and Exchange Commission in December 2021.

  • Chef@sh.itjust.works
    1048·
    9 months ago

    I will short the ever-loving shit out of that stock. This is a no brainer.

    It’s a TERRIBLE investment. The business model is completely flawed and dependent upon assumptions that there will be only positive growth in the user base.

    Google is going to use Reddit to train its AI. That software is going to immediately become a smug, whiny, racist, pedophile femboy.

    I look forward to capitalizing on this completely predictable sunbaked diaper.

    • Billiam@lemmy.world
      511·
      9 months ago

      Except the stock market (and all the cultists who worship it) don’t inhabit the same reality as the rest of us.

      It doesn’t matter if Reddit is a good investment or not- what matters is if Reddit feels like a good investment to those assholes. The market can remain irrational a lot longer than you can remain solvent.

    • SuperDuper@lemmy.world
      401·
      9 months ago

      It’s a TERRIBLE investment.

      “We are not profitable”

      -Spez, certified jailbait aficionado

    • BaldProphet@kbin.social
      211·
      9 months ago

      I’ve never shorted stock before, but I’m really tempted to start now. RDDT will become the inverse meme stock.

      • TheOneCurly@lemm.eeEnglish
        16·
        9 months ago

        Shorting an IPO isn’t really available to most investors. Liquidity is super low and most brokerages won’t be able to offer it for a while.

        • ryathal@sh.itjust.works
          2·
          9 months ago

          It’s also pretty common in the short term for a stock to ipo and be trading below the ipo price for a few months, so there’s lots of demand for shorts.

      • JDubbleu@programming.dev
        8·
        9 months ago

        On top of what others have said keep in mind shorting isn’t just you saying the stock will go down, it’s you saying the stock will go down more than others think it will. Tbh I wouldn’t even touch anything to do with shorting or options if I were you. It’s incredibly risky and should only be done by people with more experience than you and I.

        • SoleInvictus@lemmy.world
          2·
          9 months ago

          Absolutely correct. I played around with options several times during the height of the pandemic and lost over 99% of my investment. I think it was about 99.3%. It’s straight up gambling.

          Shorting a stock can result in you owing more than you’ve already spent. That’s back alley gambling.

          Keep in mind there are literally thousands of Redditors who have the same idea.

    • queerly_hot@kbin.social
      1827·
      9 months ago

      pedophile femboy

      you don’t need to continue this bigoted line against queer people, intentional or not.

      • LufyCZ@lemmy.world
        326·
        9 months ago

        Are you actually serious?

        If you read the whole thing, it’s clearly supposed to be a mashup of different aspects of reddit.

        • Chef@sh.itjust.works
          38·
          9 months ago

          I’m the original commenter.

          While you found my intention to be pretty clear, I can also understand the responder’s concern.

          I’ve never had to live my life being called a pedo because of my sexual or gender identity. It must be exhausting to have to constantly defend yourself against those awful accusations.

          I can empathize with someone seeing those two words together and getting upset.

              • Rentlar@lemmy.ca
                6·
                9 months ago

                Sometimes it’s better to do it that way, to address a powderkeg comment downthread than directly respond to it.

              • j_roby@slrpnk.netEnglish
                5·
                9 months ago

                You’re not wrong, and maybe they should have initially responded to the person who called them out. But this whole conversation could’ve turned into a dumpster fire in a number of different ways.

                I believe the response given was absolutely worth commending. It showed compassion and maturity - things that are all too often lacking in internet discourse.