REDDIT FILES TO LIST IPO ON NYSE UNDER THE TICKER RDDT

Summary from the TLDR newsletter

Reddit has filed an IPO with the SEC after a yearslong run-up. The social media site plans to trade on the New York Stock Exchange under the ticker symbol RDDT. This will be the first major tech IPO of the year and the first social media IPO since Pinterest went public in 2019. Reddit had $804 million in annual sales in 2023, up 20% from the previous year. Its core business is reliant on online advertising sales from its website and mobile app. Reddit moderators will be allowed to participate in the IPO through the company's directed share program.