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Reddit's US IPO filing reveals $90.8 million losses, 21% revenue growth in 2023

Economic Times · 1y

Reddit has revealed that its net loss for 2023 narrowed to $90.8 million, with revenue growth of around 21%. The financial disclosure coincided with the public release of the company's initial public offering (IPO) filing ahead of its planned debut on the US stock market in March. Reddit reported an average of 73.1 million daily active users and 267.5 million weekly active users in the last quarter of 2023, with over 100,000 active communities on its platform. The company has also entered into a deal with Google to make its content available for training the search engine's artificial intelligence models, worth about $60 million per year.