IPO forum
Social media platform Reddit has confidentially filed paperwork for its long-awaited public listing, aiming for a potential debut in March, after a series of failed attempts at an IPO that date back to 2021.
Founded just a year after Facebook in 2005 (the same year as YouTube), Reddit is very much a part of that early social media vintage — but, unlike many of its peers, Reddit has maintained its early-internet feel. At the site’s core remains a series of forums, or “subreddits”, organized by users. There are places to discuss the latest on TV (r/television), places to hype you up (r/getmotivated), places to get advice (r/careerguidance), somewhere to chat about Canada, Mexico or China, places to learn how to code (r/learnprogramming), and about a thousand places for silly stuff (r/deepfriedmemes, r/contagiouslaughter, etc.). If you can think of it, odds are there’s a subreddit for it.
With an emphasis on anonymity — and little reward for building a “following” — Reddit is a far cry from the quick-hit vertical video format that has grown astronomically on TikTok and other platforms. Reddit’s largest groups, “r/funny” and “r/askreddit”, on the other hand, have seen more steady growth.
r/stockvaluation
The company is targeting a $10bn valuation, just ~1% of social giant Meta, but closer to that of smaller social peers like Snapchat ($26bn) and Pinterest ($25bn) — the last major social media platform to go public in 2019.
