Reddit Is Moving Ahead With IPO After Two Years on Sidelines
- Social media firm reported 2023 net loss of $90.8 million
- Listing could be 2024’s first big test for VC-backed tech IPOs
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Reddit Inc. filed for an initial public offering, revealing the social media platform’s shrinking losses and helping to propel a still-tenuous resurgence in US listings.
The San Francisco-based company, in what is set to be one of the biggest listings of the year, filed Thursday with the US Securities and Exchange Commission to move ahead with an IPO, more than two years after first submitting its plan confidentially.