REDDIT FILES FOR IPO AND INVITES POWER USERS TO INVEST

Summary from the TLDR Founders newsletter

Reddit has filed for an initial public offering (IPO) with the SEC. The filing revealed that it made $804 million in revenue last year, mostly from advertising, while incurring a net loss of $90.8 million. In an unconventional move, Reddit is offering a portion of its shares to some of its most dedicated users, including moderators and those with high karma scores.