The greater IPO market has seen a downturn recently, something that Reddit is hoping to change. Filing to appear on the New York Stock Exchange (NYSE) as “RDDT,” the company clearly aims for further expansion.
According to Huffman, increasing Reddit’s ease of use, speed, moderation capabilities, and navigation rank high on the company’s list of strategies. Reddit also remains focused on drawing in as many new users as possible.
Finally, data licensing for AI training purposes, increased e-commerce opportunities, and advertising are other key steps that Reddit will employ to become profitable.
Reddit users react
It hasn’t taken long for platform users to weigh in on the company’s new IPO filing. In the Fidelity Investments subreddit, one person stated they received a personal invitation to purchase RDDT stock shares.
Other subreddits, including Theory of Reddit, reveal users weighing in on invitations they’ve acquired and whether or not purchasing RDDT shares will prove to be profitable in the long run.
