Seven Things to Know About Reddit’s Unusual IPO

Reddit, one of the internet’s oldest and most popular social media sites, went public on March 21. Its IPO was different from most — which is fitting since both the company and its user base are rather unusual. Redditors, as the site’s loyalists are known, have staged open revolts and blackouts to protest company policies; they’ve also posted personal attacks about company executives. And now some of those same users have a little power over Reddit: The company set aside shares for the retail crowd, allowing them to participate in the IPO alongside institutional investors. It was a risky move considering the havoc Redditors have wreaked on Wall Street. Here’s everything you need to know about the company and its unique IPO.

Reddit was founded in 2005. It was in the now-famous startup accelerator Y Combinator’s very first batch of nascent companies. Just a year later, Condé Nast purchased the fledgling site, an early sign of success for both the startup and the accelerator program.