Comment Section for Reddit files to go public — at last | TechCrunch

The webpage on TechCrunch announces that Reddit has finally filed to go public. The social media giant's S-1 filing is anticipated to kick off 2024's IPO cycle, despite the company remaining unprofitable. In 2023, Reddit approached the public markets with over $800 million in revenue, an increase from $666.7 million in 2022. However, the company continues to consume cash to fund operations, and profitability remains a challenge. Reddit's IPO filing is seen as a significant event in the tech startup landscape, given its unique decision to reserve shares for its users, a privilege typically reserved for large investors. The company also recently struck a deal with Google, allowing the search giant to use its data, adding a potential revenue stream. Reddit's user base continues to grow, with daily active users increasing by 27% at the end of 2023. The company aims to leverage this user growth into advertiser revenue growth.