Reddit's IPO raised $6bn at $34/share, with a 60% surge since debut, and potential AI applications driving investor interest.
Reddit's IPO, raising $6bn at $34/share, has seen a 60% surge since its debut. With a near-90% gross profit margin, the platform's potential AI applications have attracted investors. Reddit controls sales and marketing expenses, with a 2% increase in 2023, and strategic partnerships with Google and OpenAI are expected to boost visibility and user growth, potentially leading to profitability.
May 26, 2024
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