Reddit S1
sec.gov
Reddit S1
1–10 of 58 posts
Re: Reddit S1
#2The milestone timeline is oddly underwhelming. Both it and the letter from Steve Huffman emphasize the /r/WallStreetBets frenzy as evidence of Reddit popularity, which is ironic because a) it died out as quickly as it rose, as noted in Risk Factors and b) reminding the SEC that your platform was used for market manipulation in your S-1 is kinda funny.
Funniest line:
> Revenue from Reddit Gold and Collectible Avatars was not material for the years ended December 31, 2022 and 2023.
Re: Reddit S1
#3Pulling out interesting numbers:
Revenue: $666.7M in 2022, $804M in 2023
Gross margin: 84% in 2022, 86% in 2023
Net loss: $(158.6)M in 2022, $(90.8)M in 2023
DAUq: 57.5M in Q4 2022, 73.1M in Q4 2023
Re: Reddit S1
#4Reddit DM I just got:
"Participating in Reddit’s Initial Public Offering (IPO)
from reddit
sent 11 minutes ago
Hello,
TL;DR: – you’re invited to a special program that lets redditors purchase stock at the same price as institutional investors when we IPO. Details about eligibility and next steps follow. This (long, dense) message has all the info we can provide due to legal restrictions.
As you may have heard, Reddit has taken steps toward becoming a publicly traded company with the initial public filing of our registration statement with the U.S. Securities and Exchange Commission on February 22, 2024. Yes, it’s happening.
And because you have helped make Reddit what it is today, you now have the opportunity to become Reddit owners at the same price as institutional investors.
We’re offering a Directed Share Program (“DSP”) that invites eligible users and moderators who have contributed to Reddit to participate in our initial public offering (“IPO”). (Including you!)"
Re: Reddit S1
#5Pulling out interesting numbers: Revenue: $666.7M in 2022, $804M in 2023 Gross margin: 84% in 2022, 86% in 2023 Net loss: $(158.6)M in 2022, $(90.8)M in 2023 DAUq: 57.5M in Q4 2022, 73.1M in Q4 2023
It looks like DAUq was flat or declining until Q3'21, then started ticking up, but really popped off in Q3 and Q4 of 2023 after they killed third-party clients.
Re: Reddit S1
#6Pulling out interesting numbers: Revenue: $666.7M in 2022, $804M in 2023 Gross margin: 84% in 2022, 86% in 2023 Net loss: $(158.6)M in 2022, $(90.8)M in 2023 DAUq: 57.5M in Q4 2022, 73.1M in Q4 2023
It looks like DAUq was flat or declining until Q3'21, then started ticking up, but really popped off in Q3 and Q4 of 2023 after they killed third-party clients.
DAUs seem less useful for an anonymous service like reddit. I have like 3 throwaway accounts and it takes 5 seconds to create a new one.
Re: Reddit S1
#7The milestone timeline is oddly underwhelming. Both it and the letter from Steve Huffman emphasize the /r/WallStreetBets frenzy as evidence of Reddit popularity, which is ironic because a) it died out as quickly as it rose, as noted in Risk Factors and b) reminding the SEC that your platform was used for market manipulation in your S-1 is kinda funny. Funniest line: > Revenue from Reddit Gold and Collectible Avatars…
I saw WSB hit 60,000 concurrent users watching the Nvidia earnings yesterday
Re: Reddit S1
#8Earlier quoted context omitted.
It looks like DAUq was flat or declining until Q3'21, then started ticking up, but really popped off in Q3 and Q4 of 2023 after they killed third-party clients.
DAUs seem less useful for an anonymous service like reddit. I have like 3 throwaway accounts and it takes 5 seconds to create a new one.
Yeah, they say as much in the risk factors when discussing potential issues with their metrics:
"Moreover, a single person or organization may hold multiple accounts and may use more than one account to perform multiple views within a relevant period."
Re: Reddit S1
#9Reddit DM I just got: "Participating in Reddit’s Initial Public Offering (IPO) from reddit sent 11 minutes ago Hello, TL;DR: – you’re invited to a special program that lets redditors purchase stock at the same price as institutional investors when we IPO. Details about eligibility and next steps follow. This (long, dense) message has all the info we can provide due to legal restrictions. As you may have heard, Reddit…
Are you an active user? What was the cutoff threshold for this?
Re: Reddit S1
#10Reddit DM I just got: "Participating in Reddit’s Initial Public Offering (IPO) from reddit sent 11 minutes ago Hello, TL;DR: – you’re invited to a special program that lets redditors purchase stock at the same price as institutional investors when we IPO. Details about eligibility and next steps follow. This (long, dense) message has all the info we can provide due to legal restrictions. As you may have heard, Reddit…
Received the same via email.