NEW YORK, Feb 7 (Reuters Breakingviews) - Social media platform Reddit, which helps its users “dive into anything,” may finally plunge into the public markets. The 19-year-old company made over $800 million in sales last year, at least 20% more than in 2022, according to Bloomberg. But a dearth of profit this late into its existence portends the lack of a real business model, suggesting it’s still not ready for public company life.
https://www.reuters.com/breakingviews/investors-will-say-ok-boomer-aging-reddit-2024-02-07/
Original link: https://www.reuters.com/breakingviews/investors-will-say-ok-boomer-aging-reddit-2024-02-07/
Was that validated? It seemed like a possible misunderstanding of what his stake is theoretically worth now that it’s being converted to shares ahead of the IPO.