More than two years after first filing to go public, Reddit has detailed its finances and invited power users to invest in its imminent IPO.
On Thursday, Reddit filed its S-1 registration statement with the SEC detailing its finances and business goals ahead of its imminent initial public offering on the New York Stock Exchange under the symbol RDDT. In its S-1 document, Reddit said it made $804 million in revenue last year, the vast majority of which came from advertising. However, the company is unprofitable, with a net loss of $90.8 million in 2023.
3 million shares of its Class A common stock “to fund community-related programs that empower Redditors to bring their ideas to life.” Reddit lists data licensing and model training as part of its monetization strategy. Earlier on Thursday, it announced an AI training data deal with Google that will give the search giant “more efficient ways to train models” and real-time access at a reported price of about $60 million per year.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Reddit publicly files IPO papers, detailing plans to license data, sell more ads‘Whatever people are into or going through, it is on Reddit,’ CEO says
Les mer »
Reddit’s IPO Filing Is Missing Something: Cofounder Alexis OhanianOnly one of Reddit’s two cofounders is named in a new filing that puts the company weeks away from going public. Alexis Ohanian and Steve Huffman, now CEO, fell out in 2020.
Les mer »
Researchers show Reddit users caused the famous GameStop 'short squeeze'Three years ago, the stock price of the company GameStop soared over 1,625% in just a week.
Les mer »
Reddit Warns That r/WallStreetBets Could Wreak Havoc on Its Stock PriceIn its IPO documents, Reddit said the price and volume of its stock could “experience extreme volatility for reasons unrelated to our underlying business.”
Les mer »
Reddit Is Invested In Bitcoin and Ethereum, SEC Filing ShowsCrypto Blog
Les mer »
Reddit’s biggest risk factor is GoogleAs Reddit has detailed in its IPO S-1 filing, Google is now paying it millions a year for AI training. What is less known: Reddit also depends on Google for a lot of traffic.
Les mer »