Reddit stock soars 15% after first-ever earnings report
Reddit’s first quarter as a public company was a strong one, with key metrics like its daily user count and average revenue per user smashing Wall Street estimates.
Reddit’s first quarter as a public company was a strong one, with key metrics like its daily user count and average revenue per user smashing Wall Street estimates.
It’s arguably the most notable initial public offering of 2024 thus far.
The social media company has eyed an IPO for years, first reportedly filing confidentially back in December 2021.
The company would be the first social media platform to launch an IPO since 2019.
A major Reddit blackout in protest of API pricing changes was supposed to end Wednesday for most subreddits.
Changes to Reddit’s API—which includes new fees for third-party app developers—have been met with pushback from thousands of subreddits, many of which are undergoing blackouts that will last until Wednesday.