Reddit's public Wall Street bet

The Indicator from Planet Money

NPR

Business

4.7 • 9.5K Ratings

🗓️ 26 February 2024

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

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Summary

Any day now, social media platform Reddit is expected to launch an initial public offering (IPO), earmarking shares for its most dedicated users. On today's show, our friends at WBUR podcast Endless Thread help us unpack why Reddit is making this move, and what it might mean for Reddit's stock.

Related episodes:
r/boxes, r/Reddit, r/AIregs (Apple / Spotify)

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Transcript

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0:00.0	NPR. This is the indicator from Planet Money, I'm Waylon Wong.
0:14.0	And I'm Patty Hirsch.
0:15.0	Whelan, I have a question for you.
0:17.0	Do you Reddit?
0:18.0	I do a little bit.
0:19.0	I don't post, but I do lurk on several sub-retits.
0:22.7	Okay, tell me which ones.
0:23.8	Well, there's a Planet Money one for starters.
0:26.1	And I also read ones on skin care
0:29.2	and on Disney, because I'm a low-key Disney adult.
0:32.6	Yes.
0:32.9	This gives me a bit of an insight into you.
0:34.4	Well, Reddit, for those of you who don't like
0:36.7	to disappear down virtual rabbit holes of an evening
0:38.9	is a website and an app that hosts message boards,
0:41.8	a lot of message boards, on which users can post well pretty much
0:45.1	anything. And Reddit is going public. Up tonight it's been a private company but next month
0:49.9	it plans to sell its shares in an initial public offering that will
0:53.4	reportedly value the company at more than five billion dollars.
0:56.7	So far, so Wall Street.
0:58.2	But what makes the Reddit IPO so interesting
1:01.1	is that it plans to do things a little differently.
	...

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