Reddit Inc. (Ticker: RDDT US) is a social media platform company that focuses on community-driven content, where users can submit, vote on, and discuss content. It operates globally, providing a platform for a wide range of topics from news to entertainment. Reddit will list on March 21, 2024, on the New York Stock Exchange (NYSE). The company plans to offer shares priced between $31 and $34, targeting a valuation of up to $6.5 billion. This IPO is managed by lead bankers Morgan Stanley and Goldman Sachs. The company is attempting to secure an "anchor" or "cornerstone" investor, a strategy aimed at stabilizing the offering in a challenging market environment. Reddit's existing shareholders include prominent names such as Fidelity and Tencent. Despite its influential role in internet culture and substantial sales from advertising, Reddit has yet to report a profit, with a $91 million loss recorded in 2023 and $800 million in sales primarily from advertising. Additionally, the company is exploring revenue opportunities by licensing user data to AI groups, including a deal with Google worth approximately $60 million annually​​. Read the latest IPOX® Watch on the company.