Reddit just filed for an IPO a year after its incredible attention from ‘meme stocks’ on r/wallstreetbets.
The company submitted a draft registration statement on Form S-1 to the SEC related to the proposed IPO.
The number of shares and price range for the IPO has yet to be determined.
I’m extremely curious to hear what the community thinks.
This IPO is currently under review by the SEC.
Welcome to Franknez.com – today’s market news is on Reddit filing to go public. This should be interesting.
Let’s get started!
Many of us have spent time on Reddit at least once this year.
Some probably a little too much time, lol.
Should you invest in Reddit?
Let’s discuss it.
How Does Reddit Make Money?
Reddit generates revenue through advertising and ad-free premium membership plans.
Reddit is currently valued at more than $10 billion dollars and has raised $410 million in funding this year.
The company is reportedly aiming for $15 billion when its IPO comes to market.
In its 16 years, Reddit has mainly focused on growth rather than profitability.
However, fundamentally speaking, the company is very profitable, surpassing $100 million for the very first time in Q2 of this year.
More than 50 million people visit Reddit daily!
Innovation For the Future
Reddit plans to improve product features and advertising products for small and medium-size businesses.
Reddit is also focused on expanding internationally since most of the site is U.S-centric.
Curiosity drove millions of people to Reddit after GameStop and then AMC stock went mainstream.
The site saw an increase in users more specifically in trading and stock investing subreddits.
Wallstreetbets had about 3-4 million members when I joined.
It now has 11.3 million and counting.
Reddit is truly the CEO of forums.
Will You Invest in Reddit Stock?
I’m curious to know your thoughts.
Once approved and Reddit goes public, will you invest in the stock?
I personally wouldn’t mind diversifying my portfolio with a few shares to start and see where it goes.
Comment your thoughts below.
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