Reddit Sees More Than 20% Sales Growth in 2024 as IPO Looms
- Firm expects to break even on adjusted Ebitda basis this year
- Company had $804 million of revenue in 2023: IPO filings
Reddit plans for its shares to trade on the New York Stock Exchange under the symbol RDDT.
Photographer: Gabby Jones/BloombergThis article is for subscribers only.
Reddit Inc. is telling potential investors in its initial public offering that it expects revenue in 2024 to grow by more than 20% versus the previous year, according to a person familiar with the situation.
The social media company gave guidance at a roadshow event that it was set for a similar revenue trajectory to what it saw last year, the person said. Revenue in 2023 grew to $804 million, according to its filing with the US Securities and Exchange Commission. That’s 20.5% above the previous year’s figure, data compiled by Bloomberg show.