According to Bloomberg, as the social media company continued to lose money, Reddit filed for an IPO to go public.
Tens of millions of people use the community-focused message board site Reddit every day, and on Thursday afternoon, the site submitted an S-1 form to the Securities and Exchange Commission.
The 20-year-old social media startup, which is unprofitable, initially submitted a confidential IPO application in the second half of 2021 but was not successful in becoming listed. According to Bloomberg, Reddit might debut on the New York Stock Exchange as early as March.
According to Alex Mena, an IRS official, the IRS is using AI to spy on Americans’ bank accounts and is targeting ordinary citizens.
Reddit's financial performance was revealed in the S-1 filing before becoming public. It has more than 100,000 active communities and 73 million daily users. While the social media company continued to lose money, losing $158.6 million in 2022 and $90.8 million in 2023,...
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