Equity Shot: All about the Reddit IPO!

Equity

TechCrunch

Entrepreneurship, Business News, News, Business, Technology

4.2 • 372 Ratings

🗓️ 24 February 2024

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

Hello, and welcome to Equity, a podcast about the business of startups, where we unpack the numbers and nuance behind the headlines. Weekend team, we have something both short and sweet for you: A dig into the Reddit IPO filing that came out just after we recorded our final, regular episode of the week. Since we could not wait until Monday to talk about the numbers, we have an overview here for your delectation. If you want to read along: Reddit IPO filing, first look, written by Mary Ann and Alex Inside Reddit’s AI revenues, written by Kyle Wiggers The Reddit S-1 filing, via the SEC The Reddit IPO could be this year’s public-offering starting gun, or it could be a wet blanket on the year’s liquidity cycle. We’ll see how it prices, and even more how it trades when it does list. For now, we’re counting down until we get an S-1/A! For episode transcripts and more, head to Equity’s Simplecast website. Equity drops at 7 a.m. PT every Monday, Wednesday and Friday, so subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. TechCrunch also has a great show on crypto, a show that interviews founders and more! Credits: Equity is produced by Theresa Loconsolo with editing by Kell. Bryce Durbin is our Illustrator. We'd also like to thank the audience development team and Henry Pickavet, who manages TechCrunch audio products. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Hello and welcome back to Equity. This is an Equity shot bringing you breaking
0:15.8	news that wasn't out in time for our Friday show and we would have had Mary Ann on
0:20.8	this episode but she is currently sick we love her but I did get to
0:24.2	write with her about the Reddit IPO which we have linked in the show notes and I
0:27.6	think is probably still on top of Tech Ranch.com so go check that out but
0:32.2	yes Reddit is going public at long last and you know we couldn't wait all the way till Monday to talk about the numbers, talk about what we've learned. We've been waiting for this guys for so long.
0:43.7	Finally here, and I'm so excited about it.
0:45.9	If you are a regular equity listener,
0:47.9	you might recall that we did discuss
0:49.8	Reddit's deal with Google on the Friday show, and back on February 9th we talked about the ad market.
0:55.7	So we have been digging in on this for some time, but now we got the S1 filing, which means we have
1:00.9	so much information that's new, interesting and important.
1:04.0	So here is an overview for you this lovely weekend.
1:07.0	We'll have more of course as this company tells us more and we learn more about other IPOs,
1:11.0	but for now here's what you need to know.
1:13.0	OnlineForum Giant Reddit is going public, it's looking at the New York Stock Exchange,
1:18.0	it's targeting the ticker symbol RDDT, not super catchy, but pretty much on the nose, so we can put that aside.
1:26.3	Now, the company has filed its first S1 filing.
1:29.8	That means we do not have any information yet as to what price range the company may
1:34.4	target when it does list its shares publicly. So we do know that back in the day
1:39.4	Reddit was valued at about $10 billion, but that was a 2021 error price that I don't think many people think
1:46.1	the company will reach in its IPO. We've heard prices more around the $5 billion mark,
	...

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