Company filed document with the North American Securities Commission to begin trading its shares on the New York Stock Exchange (NYSE). Reddit logo. Data Ruvic/ Reuters The discussion forum platform Reddit filed, this Thursday (22), with a request for its initial public offering (IPO) with the SEC, the North American Securities and Exchange Commission. The company is expected to debut on the New York Stock Exchange (NYSE). According to the company’s prospectus (a document that brings together a series of information about the company and the reason for its IPO), the offering will be class A shares (common, with voting rights). The number of shares to be offered has not yet been disclosed. According to the document, banks Morgan Stanley, Goldman Sachs, J.P. Morgan, Bank of America (BofA) Securities, Deutsche Bank, MUFG and Citigroup are among the underwriters of the IPO. The request comes almost two decades after the launch of Reddit and will be a major test for the platform — which still lags behind other social networks such as X (formerly Twitter) and Facebook. In 2021, the company had already been valued at around US$10 billion (R$49.42 billion) in an investment round. The document, however, does not make clear what amount the company should seek with its share offering. According to Reuters, Reddit reached an agreement with Google to make its content available to train its artificial intelligence models in search engines. The contract would be worth around US$60 million (R$296.5 million) per year. Losses in 2022 and 2023 In the document released this Thursday (22), Reddit also reported that it recorded a loss of US$158.6 million (R$783.8 million) in 2022 and US$90.8 million ( R$ 448.7 million) in 2023. Despite the negative result, the company also reported a 21 percent growth in revenue last year, to US$ 804 million (R$ 3.97 billion) — in 2022, the platform’s revenue totaled US$666.7 million (R$3.3 billion). According to the company, the commercial area is a growth aspect that emerged “organically” on the platform and that “new community markets have already emerged specifically for commercial purposes” within Reddit. “We want to grow this user-driven economy on Reddit by providing our users and creators with the tools and incentives they need to drive continued creation, improvement, and commerce,” the company said in the document. Reddit’s operating result, also known as EBITDA (acronym for earnings before interest, taxes, depreciation and amortization), was negative at US$69.3 million (R$342.5 million) at the end of 2023. In 2022, this loss had been US$108.4 million (R$535.7 million). * With information from Reuters US elections: Why the US president is always a Democrat or Republican? Globo Tecnologia

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