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Reddit Files to Go Public, in First Social Media IPO in Years
- koolba 3y ago> The San Francisco-based company reported that its revenue rose more than 20 percent as its losses narrowed last year. It added that it had 73 million daily users and more than 100,000 active communities. > In its prospectus, Reddit said revenue in 2023 was $804 million, up about 21 percent from $666 million a year earlier. The company lost $90 million in 2023, compared with a $158 million loss the year before, according to the prospectus. I don’t know what’s crazier, that Reddit had nearly a $1B in revenue, or that they somehow manage to still lose money. What the heck are they spending it on?! Will be interesting to see what the 2024 appetite is going to be for unprofitable companies looking to cash out. I know I’m not alone in avoiding this thing like the plague.
- stefantalpalaru 3y ago[dead]
- ChrisArchitect 3y agoRelated: Reddit S1 https://news.ycombinator.com/item?id=39472782 https://news.ycombinator.com/item?id=39472782