Social media company Reddit submitted an initial public offering prospectus with the Securities and Exchange Commission on Thursday, applying to go public and be traded on the New York Stock Exchange under the ticker symbol “RDDT” after years of rumors and false starts.
FILE - This June 29, 2020 file photo shows the Reddit logo on a mobile device in New York. (AP ... [+]
According to the document filed with the SEC, the company made $804 million in revenue last year, up from $666 million the previous year, but it reported a net loss of $90.8 million—down from $158.6 million a year prior.
The company, which started in 2005, touts 73 million average daily active unique users and more than 100,000 active communities.
Reuters had originally reported the company was seeking to launch its IPO in March and had filed confidentially back in December 2021.
This is a developing story. Check back for updates.