Reddit IPO
Tradingprice, listing and company profile
IPO price$34.00Price range: $31.00 – $34.00
Deal size$748M22,000,000 shares
Valuation$6.4BIPO valuation
- IPO filing
- Roadshow
- Pricing
- First trade
- Quiet period
- Lockup
Performance since IPO
Confirmed share price history
No published trading history yet
IPO recap
Confirmed offering terms
Reddit filed IPO documents on Feb 22, 2024. Confirmed offering terms are shown below.
FiledFeb 22
PricingMar 20
First tradeMar 21
Lockup ends—
The short version
Reddit has traded publicly since 2024-03-21. This profile covers the final price, share count, proceeds, business model, operating context and key risks.
Key takeaway 1
Reddit priced 22 million shares at $34 and began NYSE trading on 21 March 2024.
Key takeaway 2
The deal mixed primary capital with a secondary sale and included a user-focused directed share program.
Key takeaway 3
Advertising remains the core monetization engine, with data licensing an additional strategic channel.
Company in detail
What happened at the IPO
Reddit priced its initial public offering at $34.00 per share and began trading on 2024-03-21 on the NYSE under RDDT. The final price, base share count and gross size are the confirmed transaction terms; they are separate from later market performance.
The deal included 22,000,000 base shares and an over-allotment option for 3,300,000 additional shares. The offering included both newly issued Class A shares and selling-stockholder shares, with a directed share program for eligible users and moderators.
Company and products
Reddit is Community discussion platform built around interest-based forums. Its core offering includes Subreddits, advertising, Reddit Premium and licensing of public conversations for data products.
The platform monetizes a large, global audience through advertising, subscriptions and data licensing while moderating user-generated content. The company’s route to scale therefore depends on both product demand and the operating discipline needed to serve that demand.
Capital, ownership and use of proceeds
The registration materials described the capital structure and the distinction between new shares and shares sold by existing holders. Working capital, growth investments, debt repayment and general corporate purposes; selling stockholders received no company proceeds.
The headline gross offering value is not the same as cash retained by the issuer. Underwriting discounts, offering expenses, selling-stockholder proceeds and any concurrent securities must be read separately in the final prospectus.
Financial and operating lens
Daily active uniques: 73M+ in IPO materials. Reddit described more than 73 million daily active unique visitors in its IPO-era company profile.
The public-market analysis should connect this operating measure to revenue quality, cash conversion, customer or user retention and the cost of expanding the platform. IPO proceeds can extend the runway, but they do not remove execution risk.
Why this IPO matters
Reddit combined a recognizable consumer brand with unusual governance, community moderation and a new data-licensing opportunity linked to AI search.
The main questions after the first trade are whether the company can deliver on its stated growth plan, preserve service quality and turn the IPO story into durable public-company results.
- Daily audience, moderation quality and the conversion of traffic into revenue are central post-IPO metrics.
Operating metrics
Daily active uniques
73M+ in IPO materialsReddit described more than 73 million daily active unique visitors in its IPO-era company profile.
Feb 22, 2024Company profile
- Founded
- 2005
- Legal name
- Reddit, Inc.
- Listing
- NYSE · RDDT
- Headquarters
- San Francisco, California, United States
- Business
- Community discussion platform built around interest-based forums.
- Products
- Subreddits, advertising, Reddit Premium and licensing of public conversations for data products.
- IPO structure
- The offering included both newly issued Class A shares and selling-stockholder shares, with a directed share program for eligible users and moderators.
- Use of proceeds
- Working capital, growth investments, debt repayment and general corporate purposes; selling stockholders received no company proceeds.
- First trade
- 2024-03-21
- Employees
- No published figure
Timeline
- Public registration filed
Reddit moved from private preparation into a public registration process. Filing terms were preliminary and subject to later pricing.
- IPO priced
Reddit announced a final price of $34.00 per share for the base offering.
- First trading day
The shares began trading on NYSE under RDDT.
- Closing confirmed
The issuer confirmed completion of the offering and the final capital-market structure.
Daily active uniques
73M+ in IPO materialsReddit described more than 73 million daily active unique visitors in its IPO-era company profile.
Base shares offered
22,000,000Base deal size at the final price; the over-allotment option is shown separately.
Final IPO price
$34.00per shareFinal public offering price announced on 2024-03-20; this is the offer price, not a current market quote.
Employees
—No published figure
Net income
-$90.8MFY2023
Operating cash flow
—No published figure
Revenue
Reported financial periods · USD
$804MFY2023
FY2023
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Financial figures by period
| Period | Revenue | As of |
|---|---|---|
| FY2023 | $804,000,000.00 | Mar 20, 2024 |
Net income
Reported financial periods · USD
-$90.8MFY2023
FY2023
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Financial figures by period
| Period | Net income | As of |
|---|---|---|
| FY2023 | -$90,800,000.00 | Mar 20, 2024 |
Valuation & peers
Price-to-sales, revenue growth and gross margin
Comparable metrics unavailableComparable company figures for the same date are not available.
Revenue growth (%)
| Company | P/S | Growth | GM |
|---|---|---|---|
| — | — | — | |
| No published peer comparison | |||
Context: Private financing valuations and modeled market values do not establish an IPO valuation. Revenue run-rate is not used here to calculate a price-to-sales ratio.
Private valuation and funding details
Final IPO price
$34.00 per shareFinal public offering price announced on 2024-03-20; this is the offer price, not a current market quote.
Base shares offered
22,000,000Base deal size at the final price; the over-allotment option is shown separately.
Gross base offering
$748.0MGross base offering value calculated from the disclosed base share count and IPO price; it is not net proceeds.
IpoHub score
How we score—Not rated
Balance sheet—
Growth—
Community—
Profitability—
Valuation—
Individual category scores are not available.
Where the money goes
$748MIPO raise
Use of proceeds—
Allocation percentages—
Net proceeds—
See the reported use of IPO proceeds below.
Reported use of proceeds
- use
- Working capital, growth investments, debt repayment and general corporate purposes; selling stockholders received no company proceeds.
- structure
- The offering included both newly issued Class A shares and selling-stockholder shares, with a directed share program for eligible users and moderators.
Key risks
Editorial analysisModeration and safety
Platform health depends on rules, moderation capacity and advertiser confidence.
Traffic monetization
Audience growth does not automatically translate into advertising yield or revenue.
Data licensing
Licensing conversations for AI and search may be cyclical, negotiated and legally sensitive.
Dual-class governance
Voting control and founder influence can limit the influence of public shareholders.
Final deal terms
- Ticker
- RDDT
- Exchange
- NYSE
- IPO valuation
- $6.4B
- IPO price
- $34.00
- Price range
- $31.00 – $34.00
- Pricing date
- Mar 20, 2024
- First trading day
- Mar 21, 2024
- Shares offered
- 22,000,000
- Deal size
- $748M
- Underwriters
- Not confirmed
- Greenshoe shares
- 3,300,000
- Lockup
- Not confirmed
- Quiet period expirations
- Not confirmed
Reddit IPO: where and how to invest
Where can I invest in the Reddit IPO?
Reddit shares have a confirmed trading start on NYSE under the ticker RDDT. You can buy through a broker that supports that market and makes the shares available to your account. Check the venue, fees and current quote; the market price can differ from the original IPO offer price.
Can I buy Reddit shares now?
Reddit's public trading start is confirmed. Whether you can buy the stock in your account depends on your broker's market access and account rules. A stock-market order buys at available market prices; it is not an IPO allocation at the original offering price.
When is the Reddit IPO?
Reddit's confirmed first trading day was Mar 21, 2024. The offering was priced on Mar 20, 2024.
What is the Reddit IPO share price?
Reddit's confirmed IPO offer price is $34.00 per share. This is the offering price, not a live stock-market quote.
What is Reddit's stock ticker and exchange?
The ticker recorded in this profile is RDDT. The exchange recorded here is NYSE.
Can I buy Reddit shares before the IPO?
The Reddit offering tracked here already has a confirmed trading start. Buying on the stock market now is therefore not a pre-IPO investment. Check the current quote and available share class with your broker.
Where can I find the Reddit IPO prospectus?
Check Reddit's official investor-relations announcements and publications from the relevant regulator and exchange. A confidential submission or an announcement about it is not a publicly available prospectus. Before subscribing, read the final prospectus for the risks, price, share class and offering terms.
More questions about the Reddit IPO
How did Reddit monetize before the IPO?
Primarily through advertising, with subscriptions and emerging data-licensing arrangements as additional channels.
What was the IPO price?
Reddit priced its offering at $34 per share.
Did Reddit receive all IPO proceeds?
No. Certain selling stockholders sold shares and did not pass those proceeds to Reddit.
What should be watched after listing?
Daily active users, advertising revenue, content quality, moderation costs and data-license renewals.
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