Reddit (ticker: RDDT) went public on March 21, 2024, debuting at $34 per share, valuing the company at $6.4 billion.
The stock closed its first day at $50.44, reaching a market cap of $9.5 billion.
In its first earnings report as a public company, Reddit reported a 71% increase in revenue to $427.7 million for Q4 2024, though daily active users were slightly below expectations.
The company achieved its first quarterly profit in Q3 2024, driven by targeted advertising and data licensing deals with companies like Google and OpenAI.
Reddit has also expanded its AI initiatives, partnering with Google in February 2024 for a $60 million deal to license user content for AI training, and with OpenAI in May 2024, allowing ChatGPT to train on Reddit’s data.
As of March 11, 2025, RDDT is trading at $116.05 per share, reflecting the company’s growth and strategic positioning in the AI space.