by Megan Stals
Share

Reddit IPO: How to buy shares in Reddit

The social media platform Reddit has made plans for an IPO in March 2024.

What is the Reddit IPO date?

Reddit revealed it plans to trade on the New York Stock Exchange under the ticker symbol RDDT when it filed its IPO prospectus in late February 2024. The company intends to complete an IPO by the end of March 2024.

What is the expected Reddit IPO share price?

The expected share price of Reddit will not be available until the IPO is closer. The business was valued at around US$10b in August 2021 and will sell approximately 10% of its shares in the IPO. Its current valuation will be updated closer to the March listing date.

What is the ticker symbol for Reddit?

The ticker symbol for Reddit will be RDDT.

How to buy shares in Reddit?

Reddit is not currently listed at this time. When the firm completes an IPO, you can follow the steps below to buy shares in the company.

1. Open a stock investing account

If you want to buy Reddit stock, you'll need to sign up to an investing platform with access to the New York Stock Exchange. Stake has access to U.S. stock exchanges.

2. Fund your account

Complete an application with your personal and financial details. Fund your account with a bank transfer, debit card or even Apple/Google Pay.

3. Search for Reddit

Find the asset by searching for the name or the ticker symbol RDDT. Do your own research to ensure it is the right investment product for your own circumstances.

4. Choose an order type and buy the asset

Buy on any trading day with a market, limit or stop order. Look into dollar cost averaging to spread out your risk, which smooths out buying at consistent intervals.

5. Monitor your investment

Optimise your portfolio by tracking how the security performs with an eye on the long term. You may be eligible for dividends and shareholder voting rights that affect your shares.

consistent-transparent-simple-brokerage-banner.png

About Reddit

The social media platform has put forward detailed plans for an IPO in March 2024, several years after confidentially filing for a listing in December 2021. Concerns about the company’s profitability and general market volatility leading to declining IPO numbers have resulted in these plans being delayed.

Reddit is known for its discussion groups, which often cover niche topics. They allow users to post anonymously and let the community vote for responses, with those that receive the highest amount of 'up' votes getting more views. The website has also become a hub for retail investors to discuss investment ideas. 

The company primarily generates revenue through advertising. However, its lack of user data makes targeted advertising challenging when compared to Facebook ($META). Premium memberships are available that provide an ad-free experience, access to additional areas and other benefits. Users can also purchase coins to reward others for their contributions.  

Reddit is focused on gaining profitability, which has been affected by the amounts of cash that have gone towards investing in the platform. It could be the first major social media company to list since Pinterest ($PINS) in 2019. Increased screen time has made the industry attractive for advertisers, but established giants like Instagram and newcomers such as TikTok present strong competition. 

Who owns Reddit?

Reddit was founded by Steve Huffman and Alexis Ohanian in 2005 and sold to global media firm Condé Nast Publications in 2006. Reddit is now a subsidiary of the parent company of Condé Nast, Advance Publications. Steve Huffman returned as CEO in 2015. 

Reddit has had several rounds of investment and has received funding from the likes of Fidelity Investments, Andreessen Horowitz, Sequoia Capital and Tencent Holdings ($TECHY).

Reddit IPO details

Proposed ticker symbol

RDDT

Company Name

Reddit 

Exchange

New York Stock Exchange

Share price

Not available at this time

Shares offered

Not available at this time

We’ll update this article when more information becomes available.

🎓 Learn more: What is an initial public offering and how do they work?

Disclaimer: This does not constitute financial advice nor a recommendation to invest in the securities listed. The information presented is intended to be of a factual nature only. Past performance is not a reliable indicator of future performance. As always, do your own research and consider seeking financial, legal and taxation advice before investing.


Portrait photo of Megan Stals, Market Analyst at Stake.

Megan Stals

Market Analyst

Megan is a markets analyst at Stake, with 7 years of experience in the world of investing and a Master’s degree in Business and Economics from The University of Sydney Business School. Megan has extensive knowledge of the UK markets, working as an analyst at ARCH Emerging Markets - a UK investment advisory platform focused on private equity. Previously she also worked as an analyst at Australian robo advisor Stockspot, where she researched ASX listed equities and helped construct the company's portfolios.


Related


Want more?

You know what to do

Insights, trends and company deep dives delivered straight to your inbox.


Stake logo
Over 7,000 5-star reviews
App Store logoGoogle Play logo

Subscribe to our free newsletters

By subscribing, you agree to our Privacy Policy.

Stakeshop Pty Ltd is registered as an overseas company in New Zealand (NZBN: 9429047452152), and is registered as a Financial Service Provider under the Financial Service Providers (Registration and Dispute Resolution) Act 2008 (No. FSP774414). We hold a full licence issued by the Financial Markets Authority to provide a financial advice service under the Financial Markets Conduct Act 2013. However, the content on this website has not been prepared to take into account any of your individual objectives, financial situation or needs. To the extent you require further information about the relevant New Zealand legislation that may apply, or require specific advice, please contact your legal and/or financial adviser (as appropriate). The information on our website or our mobile application is not intended to be an inducement, offer or solicitation to anyone in any jurisdiction in which Stake is not regulated or able to market its services. At Stake, we’re focused on giving you a better investing experience but we don’t take into account your personal objectives, circumstances or financial needs. Any advice is of a general nature only. As investments carry risk, before making any investment decision, please consider if it’s right for you and seek appropriate taxation and legal advice. Please view our Terms & Conditions, Privacy Policy, Financial Advice Disclosure and Disclaimers before deciding to use or invest on Stake. By using the Stake website or service in any way, you agree to our Privacy Policy and Terms & Conditions All financial products involve risk and you should ensure you understand the risks involved as certain financial products may not be suitable to everyone. Past performance of any product described on this website is not a reliable indication of future performance. Stake is a registered trademark under class 36 (New Zealand).

Copyright © 2024 Stake. All rights reserved.