Social News
Social media Reddit is reportedly eyeing a valuation of at least $5 billion in its upcoming initial public offering (IPO), according to a Bloomberg report.
Social media Reddit is reportedly eyeing a valuation of at least $5 billion in its upcoming initial public offering (IPO), according to a Bloomberg report. The company is aiming to debut on the public markets as early as March, and the IPO could value Reddit at a mid-single-digit billion dollar range.
This valuation would be a significant step down from Reddit’s previous valuation of $10 billion, which was set in 2021.
Reddit’s IPO plans have been somewhat delayed by the Federal Reserve’s interest rate hikes and the resulting risk-off market sentiment. However, the company is reportedly hoping to capitalize on a potential rebound in the market in early 2024.
In addition to its IPO plans, Reddit has also been making some recent changes to its business. The company has recently laid off employees, and it has also been working to improve its ad targeting and monetization strategies.
According to SimilarWeb, Reddit had 2.1 billion visits in December 2023, making it one of the most-visited websites in the world.
According to radar.cloudflare.com, Reddit’s traffic is distributed as follows by country in December 2023:
United States: 48.51%
Canada: 7.01%
Australia: 4.36%
United Kingdom: 3.50%
Germany: 3.36%
The top 20 subreddits
- r/funny – Funny/Humor (56M)
- r/AskReddit – Learning and Education (45M)
- r/gaming – Gaming (39M)
- r/aww – Animals and Pets (35M)
- r/worldnews – World News (35M)
- r/todayilearned – Learning and Education (33M)
- r/Music – Music (33M)
- r/movies – Movies (32M)
- r/science – Science (31M)
- r/pics – Art (30M)
- r/Showerthoughts – Funny/Humor (30M)
- r/memes – Internet Culture and Memes (30M)
- r/Jokes – Funny/Humor (28M)
- r/news – World News (27M)
- r/videos – Internet Culture and Memes (27M)
- r/space – Science (25M)
- r/askscience – Science (25M)
- r/EarthPorn – Outdoors and Nature (24M)
- r/food – Food and Drink (24M)
- r/books – Reading, Writing, and Literature (23M)
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