Fortune: Reddit closes nearly 50% higher on 1st trading day in latest sign IPO market heating up

Written by EquityZen

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March 21, 2024

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0 min read

Fortune: Reddit closes nearly 50% higher on 1st trading day in latest sign IPO market heating up

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Reddit's decision to allocate IPO shares to "super users" paid off after its first few days of trading, but will it be the right decision for longer term alignment?

EquityZen's Head of Market Insight, Brianne Lynch explains, Reddit “simply could not have hundreds of thousands of subreddits without the volunteer work, essentially”. “They need these moderators, and I think that part of the idea of allowing the super users to buy into the IPO is to make them really feel like stakeholders—it’s skin in the game.”

More coverage of RDDT's IPO in Fortune.

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Fortune: Reddit closes nearly 50% higher on 1st trading day in latest sign IPO market heating up

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Fortune: Reddit closes nearly 50% higher on 1st trading day in latest sign IPO market heating up

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