Reddit, the popular social media platform, has made its initial public offering (IPO – Free Report) filing public, revealing key financial insights. The company reported a narrowed net loss of $90.8 million in 2023, coupled with decent revenue growth of about 21%.
These figures set the stage for Reddit’s much-anticipated debut on the U.S. stock market in March, marking a significant milestone for the platform, per Reuters, as quoted on Yahoo Finance.
User Metrics and Engagement
In the three months leading up to December 31, 2023, Reddit boasted an average of 73.1 million daily active users and 267.5 million weekly active users. The platform also noted the presence of over 100,000 active communities and a remarkable 1 billion cumulative posts. These metrics underscore Reddit’s broad user base and vibrant community engagement.
