What Redditors think about the Reddit IPO
Marketplace Tech
Marketplace
4.5 • 1.3K Ratings
🗓️ 19 March 2024
⏱️ 9 minutes
🧾️ Download transcript
Summary
More than two years after Reddit first announced plans to go public, a share offering is expected to hit the stock market this week. The social network boasts 260 million active weekly users and more than 100,000 active communities, according to its S-1 filing with the Securities and Exchange Commission. Yet in its nearly two-decade history, Reddit has never turned a profit. Marketplace’s Lily Jamali spoke with Elizabeth Lopatto, senior writer at The Verge, who says not everyone is on board with the company selling stock.
Transcript
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| 0:24.0 | The Reddit IPO is viewed by creditors. |
| 0:31.0 | From American Public Media, this is Marketplace Tech. |
| 0:34.1 | I'm Lily Dramale. More than two years after it first announced plans to go public, an IPO from |
| 0:50.2 | Reddit is finally expected this week. |
| 0:53.2 | The site boasts 260 million weekly active users |
| 0:57.0 | and more than 100,000 active communities |
| 0:59.9 | known as Sub-Edits. |
| 1:01.8 | One favorite, the Map Porn Sub-reddit, |
| 1:04.9 | where right now you'll find a map of Denmark |
| 1:08.0 | with literal translations of places |
| 1:10.5 | such as Beer Good, located just south of intestines. |
| 1:15.0 | And yet in its nearly two decade history, |
| 1:18.0 | Reddit has never turned a profit. |
| 1:20.0 | Elizabeth Lopato of The Verge reports not everyone is on board with the |
| 1:24.3 | company's plans. It's really hard to monetize Reddit and that hasn't really |
| 1:29.8 | successfully happened. You know it's a really useful social network. It's one I think that a lot of people use, especially for Google search results. Like if you're looking to repair some device, there's probably somebody on Reddit who has like actually |
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