Reddit files public S-1 registration statement with the SEC

On February 22, 2024, Reddit publicly filed its Form S-1 registration statement with the U.S. Securities and Exchange Commission, formally launching its initial-public-offering process roughly two and a half years after submitting a confidential draft in 2021. The filing disclosed full-year 2023 revenue of about $804 million, up 21% year over year, and a narrowed net loss of roughly $90.8 million.

The document also detailed a Google data-licensing agreement worth approximately $60 million a year and an unusual plan to let eligible moderators and longtime users buy shares at the IPO price through a directed-share program. As Reddit's first detailed public look at its finances, the S-1 set off intense scrutiny of its user metrics, advertising business, and emerging data-licensing revenue ahead of the March debut.