Report: 75K loyal Redditors can snag shares before Reddit goes public
Thousands of the most dedicated Reddit users will have a chance to snag shares when the company goes public in 2024, The Wall Street Journal reported Wednesday.
Citing people familiar with the matter, The Journal reported that 75,000 of the "most prolific" Redditors will have an opportunity to buy "an as-yet-undetermined number of shares" before trading starts.
This privilege, WSJ noted, is "normally" reserved for "big investors" who can stand to hugely profit if the share prices dramatically rise after Reddit begins listing shares on the New York Stock Exchange (NYSE), which is expected to happen this March.