Reddit is a popular social media platform that ranks in the top 20 most visited websites on the Internet. Every day, 52 million active users access it. Visitors can share links, vote on the most fascinating stuff, and discuss it in topical communities using the resource. More than 100,000 communities have been created on the site, covering a wide range of topics.
Reddit has a $10 billion valuation, making it a unicorn. By the time of the IPO, the valuation is expected to exceed $15 billion.
Financial performance of Reddit before the IPO
For the second quarter of 2021, the corporation had a profit of $100 million. This is nearly three times higher than the same period the previous year. The profit for the entire year of 2020 was $141,8 million. In total, the company was able to raise $1,3 billion in capital over the course of seven rounds. Tencent, a Chinese tech titan, is a major investor.
Reddit’s IPO date
The exact date of the IPO is not yet known. On the 16th of December 2021, Reddit representatives said that all documents had already been sent to the Securities and Exchange Commission (SEC). The final date of the public offering will depend on market conditions.
Potential Market and IPO Prospects Reddit
Over time, the number of active site users has increased. It is predicted that by 2025, there will be 53 million people in the United States alone (37.9 million in 2020, the forecast for the end of 2021 is 43.3 million). The global version of the resource is likely to grow at a comparable rate, making it even more appealing to marketers and increasing advertising income. By 2022, it is predicted to reach $289,9 million.