--- title: "Fortune: Reddit closes nearly 50% higher on 1st trading day in latest sign IPO market heating up | EquityZen" description: Discover how Reddit's IPO success on its first trading day signals a hot market, with insights on engaging super users for long-term alignment. Stay updated with EquityZen's blog. image: https://blog.equityzen.com/hubfs/Fortune%20Logo.png --- [![EquityZen](https://blog.equityzen.com/hubfs/equityzen-logo.svg "EquityZen")](https://equityzen.com/) - [Investments](https://equityzen.com/explore/) - [Explore](https://equityzen.com/explore-private-market/) - How it Works - [Investors](https://equityzen.com/investor/) - [Shareholders](https://equityzen.com/shareholder/) - [Institutions](https://equityzen.com/institutions/) - [Issuers](https://equityzen.com/issuers/) - [Financial Advisors](https://equityzen.com/financial-advisors/) - [Insights](https://blog.equityzen.com/) - [Login](https://equityzen.com/accounts/login/) - [Sign Up](https://equityzen.com/accounts/register/) [Back to insights](https://blog.equityzen.com) [IPO News](https://blog.equityzen.com/tag/ipo-news) [In the News](https://blog.equityzen.com/tag/in-the-news) # Fortune: Reddit closes nearly 50% higher on 1st trading day in latest sign IPO market heating up ![EquityZen](https://blog.equityzen.com/hs-fs/hubfs/image%20(5).png?width=96&height=96&name=image%20(5).png) Written by EquityZen • March 21, 2024 • 0 min read ![Fortune: Reddit closes nearly 50% higher on 1st trading day in latest sign IPO market heating up](https://blog.equityzen.com/hs-fs/hubfs/Fortune%20Logo.png?width=1318&height=736&name=Fortune%20Logo.png) In this article Like this article? Reddit's decision to allocate [IPO shares](https://blog.equityzen.com/the-latest-ipo-news-equityzens-ipo-tracker) 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](https://www.linkedin.com/in/briannewlynch/) 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](https://bit.ly/4cpoLPz). Join Investors and Shareholders Exploring the Private Markets Today [![Get Started](https://no-cache.hubspot.com/cta/default/20754585/8e691282-6ef2-4809-87ba-5604efc0edbe.png)](https://cta-redirect.hubspot.com/cta/redirect/20754585/8e691282-6ef2-4809-87ba-5604efc0edbe) ### Related Articles ![EquityZen state of the private market blog with view of forest with sun](https://blog.equityzen.com/hs-fs/hubfs/EquityZen_Blog_State%20of%20the%20Private%20Markets.jpg?width=812&height=446&name=EquityZen_Blog_State%20of%20the%20Private%20Markets.jpg) ##### The State of the Private Markets: 2020 EquityZen's CEO Atish Davda shares his views on the evolving private market landscape and opportunit... 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