Feb 22, 2024 - Economy

Reddit, set, go!

A person holding a smartphone with a Reddit logo on it.

Photo Illustration: Rafael Henrique/SOPA Images/LightRocket via Getty Images

Reddit has finally publicly filed to go public on the New York Stock Exchange under the ticker "RDDT," Axios' Kia Kokalitcheva writes.

Why it matters: It's a move the company wanted to make for a while, but the market downturn forced it to pump the breaks.

By the numbers: The online forum website brought in $804 million in revenue in 2023, with a net loss of just under $91 million.

  • In 2022, it had $667 million in revenue and a net loss of almost $159 million.

What we're watching: Yesterday we noted that Reddit is reportedly eying an unusual move to reward its most loyal users through the IPO.

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This story was an excerpt from Axios Closer, a recap on the day's biggest business stories.

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