Reddit Plans To Go Public At $15 Billion Valuation

Reddit is a discussion web board. It was founded in 2005 by Steve Huffman and Alexis Ohanian. It raised $100k fund at seed round from Y-Combinator. As of December 2022, Reddit ranks as the 20th-most-visited website in the world and 6th most-visited website in the U.S., according to Semrush.

Huffman and Ohanian sold Reddit to Condé Nast Publications, owner of Wired magazine in 2006, for a reported $10 million to $20 million. They left Reddit in 2009.  The company appointed Erik Martin as manager to run Reddit. Reddit makes money by selling advertising and sponsored contents.

In 2014 Reddit raised $50 million in series B. It became Unicorn in 2017 when it raised $200 million series C at $1.8 billion valuation.

Reddit is very popular in the United States and the United Kingdom with 52 million daily active users and 430 million users that use Reddit once a month. Reddit community is called subreddit. There are 2.8 million subreddits.

Reddit plans to list on the stock exchange in the second half of this year. It has filed for IPO in late 2021. Reddit wants to list on stock exchange at $15 billion valuation or more.

Reddit annual revenue

2014 - $8 million

2015 - $15 million

2016 - $25 million

2017 - $50 million

2018 - $80 million

2019 - $120 million

2020 - $170 million

2021 - $350 million