Reddit

General Information
Business:

Our mission is to bring community, belonging, and empowerment to everyone in the world. We built Reddit with the belief that communities unlock the power of human creativity and create a sense of belonging and empowerment for their members. Our over 100,000 active communities (known as “subreddits”) have channeled the power of human creativity to grow Reddit since our founding. We believe the world needs community more than ever, and that this represents our greatest opportunity to further enrich the lives of everyone in the world. (Incorporated in Delaware) 

(Note: Reddit Inc. priced its IPO at $34.00 – the top of its $31.00-to-$34.00 range – and sold 22.0 million shares – the same number of shares in the prospectus – to raise $748 million on Wednesday, March 20, 2024.)

(Note: Reddit Inc. disclosed in an S-1/A filing after the closing bell on Friday, March 15, 2024, that the Federal Trade Commission is looking at its AI deals ahead of its IPO.)

(Note: Reddit Inc. filed the terms for its long-awaited IPO on March 11, 2024: 22.0 million shares at a price range of $31.00 to $34.00 to raise $715 million, based on mid-point pricing at $32.50, according to its S-1/A filing.)

(Note: Reddit filed its S-1 on Feb. 22, 2024, without disclosing terms for its long-awaited IPO, with proceeds estimated at $100 million – a placeholder figure. The social media company is expected to raise about five to seven times that estimate – around $500 million to $700 million or more – but that figure won’t be known until Reddit files an S-1/A with its IPO terms – a filing that could come within the next week to 10 days or so. Reddit filed confidential IPO documents on Dec. 16, 2021.)  

Industry: SERVICES-COMPUTER PROCESSING & DATA PREPARATION
Employees: 2013
Founded: 2005
Contact Information
Address 303 2nd Street, South Tower, 5th Floor, San Francisco, CA 94107
Phone Number (415) 494-8016
Web Address http://www.redditinc.com/
View Prospectus: Reddit
Financial Information
Market Cap $5405.32mil
Revenues $804.0 mil (last 12 months)
Net Income $-90.8 mil (last 12 months)
IPO Profile
Symbol RDDT
Exchange NYSE
Shares (millions): 22.0
Price range $34.00 - $34.00
Est. $ Volume $748.0 mil
Manager / Joint Managers Morgan Stanley/Goldman Sachs/J.P.Morgan/BofA Securities/Citigroup/Deutsche Bank Securities/MUFG
CO-Managers Citizens JMP/ Needham & Co./ Piper Sandler/ Raymond James/ Academy Securities/ Loop Capital Markets/ Ramirez & Co./ Roth Capital Partners/ Telsey Advisory Group
Expected To Trade: 3/21/2024
Status: Priced
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
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