[HN Gopher] Reddit S1
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Reddit S1
Author : fjordan
Score : 71 points
Date : 2024-02-22 20:33 UTC (2 hours ago)
(HTM) web link (www.sec.gov)
(TXT) w3m dump (www.sec.gov)
| minimaxir wrote:
| The milestone timeline is oddly underwhelming. Both it and the
| letter from Steve Huffman emphasize the /r/WallStreetBets frenzy
| as evidence of Reddit popularity, which is ironic because a) it
| died out as quickly as it rose, as noted in Risk Factors and b)
| reminding the SEC that your platform was used for market
| manipulation in your S-1 is kinda funny.
|
| Funniest line:
|
| > Revenue from Reddit Gold and Collectible Avatars was not
| material for the years ended December 31, 2022 and 2023.
| CamelCaseName wrote:
| I saw WSB hit 60,000 concurrent users watching the Nvidia
| earnings yesterday
| minimaxir wrote:
| Huh, I just checked now and WSB does have more CCUs than I
| expected. (WSB has 38.0k CCUs, /r/pics has 36.3k CCUs)
|
| That makes zero intuitive sense.
| occamsrazorwit wrote:
| WSB has more actual discussion, while people mostly see
| /r/pics on their feed (because it's a default subreddit) or
| scroll through really quickly (because it's easily-
| consumable content).
| simantel wrote:
| Pulling out interesting numbers:
|
| Revenue: $666.7M in 2022, $804M in 2023
|
| Gross margin: 84% in 2022, 86% in 2023
|
| Net loss: $(158.6)M in 2022, $(90.8)M in 2023
|
| DAUq: 57.5M in Q4 2022, 73.1M in Q4 2023
| simantel wrote:
| It looks like DAUq was flat or declining until Q3'21, then
| started ticking up, but really popped off in Q3 and Q4 of 2023
| after they killed third-party clients.
| tempsy wrote:
| DAUs seem less useful for an anonymous service like reddit. I
| have like 3 throwaway accounts and it takes 5 seconds to
| create a new one.
| simantel wrote:
| Yeah, they say as much in the risk factors when discussing
| potential issues with their metrics:
|
| "Moreover, a single person or organization may hold
| multiple accounts and may use more than one account to
| perform multiple views within a relevant period."
| ortusdux wrote:
| Reddit DM I just got:
|
| _" Participating in Reddit's Initial Public Offering (IPO)
|
| from reddit
|
| sent 11 minutes ago
|
| Hello,
|
| TL;DR: - you're invited to a special program that lets redditors
| purchase stock at the same price as institutional investors when
| we IPO. Details about eligibility and next steps follow. This
| (long, dense) message has all the info we can provide due to
| legal restrictions.
|
| As you may have heard, Reddit has taken steps toward becoming a
| publicly traded company with the initial public filing of our
| registration statement with the U.S. Securities and Exchange
| Commission on February 22, 2024. Yes, it's happening.
|
| And because you have helped make Reddit what it is today, you now
| have the opportunity to become Reddit owners at the same price as
| institutional investors.
|
| We're offering a Directed Share Program ("DSP") that invites
| eligible users and moderators who have contributed to Reddit to
| participate in our initial public offering ("IPO"). (Including
| you!)"_
| CamelCaseName wrote:
| Are you an active user? What was the cutoff threshold for this?
| ortusdux wrote:
| Somewhat active. Could have something to do with my account
| being 15+ y/o as well.
| goles wrote:
| They discuss the Directed Shares Program on page 224.
|
| https://www.sec.gov/Archives/edgar/data/1713445/000162828024.
| ..
|
| Briefly - Users & Moderators will be invited on 6 phased
| tiers. Accounts created on or before Jan 1st, 2024.
|
| T1 - Users identified by us who have made meaninful
| contribution to Reddit community programs.
|
| T2 - 200,000 Karma / 5,000 Mod actions
|
| T3 - 100,000 Karma / 2,500 Mod actions
|
| T4 - 50,000 Karma / 1,000 Mod actions
|
| T5 - 25,000 Karma / 500 Mod actions
|
| T6 - All eligible users
|
| Class A Common stock, # and % appears redacted.
| 01HNNWZ0MV43FF wrote:
| Too bad all my old alts either rotated or got hellbanned
| lol
| toomuchtodo wrote:
| Received the same via email.
| ortusdux wrote:
| Looks like I did as well.
| _xander wrote:
| CEO total comp of $193m in 2023 is...quite something
| DeRock wrote:
| For a company that produced negative income, absolutely absurd.
| Why do investors put up with this? Is there truly no oversight?
| There is no way he provides value close to his compensation.
| ortusdux wrote:
| Did this get flagged/deleted?
| simantel wrote:
| It must've been flagged initially, but I see it on the second
| page now.
| brrrrrm wrote:
| Are there any Reddit alternatives these days? Something like HN
| but more slightly more casual (image/video embeds, subreddits)
| cft wrote:
| 4chan.org
|
| stacker.news
| fsmv wrote:
| Lemmy is the main alternative that isn't computing topics only.
| The biggest server is https://lemmy.world.
| Arrath wrote:
| SomethingAwful putters along under new ownership, with fairly
| decent moderation.
| ChrisArchitect wrote:
| Related:
|
| _Expanding Our Partnership with Google_
|
| https://news.ycombinator.com/item?id=39471317
| mindcandy wrote:
| Am I reading this right?
|
| Revenue: $667m
|
| Total comp of 3 execs: $322m
|
| Income: ($90m)
|
| I might have a suggestion on how they can get out of the red.
| It's a wild one, I know. But, it just might work!
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(page generated 2024-02-22 23:02 UTC)