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Reddit Discloses Finances in IPO Filing, Will Let Influential Moderators and Users Buy Shares at Offering Price
Reddit, the popular internet discussion community, filed a registration statement for its long-awaited initial public offering.
According to Reddit, users and moderators who created an account on or before Jan. 1, 2024, are potentially eligible for the directed share program. The company in December 2021 confidentially submitted a draft registration statement with the SEC for a proposed IPO. Reddit, which once billed itself as “the front page of the internet,” currently carries the slogan “Dive into anything.” Last June, the company said it was eliminating 90 jobs, laying off about 5% of its total employee base, in a restructuring designed to position the company to break even in 2024.
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