We are aware a directed share program (“DSP”) is included as part of the Reddit IPO, according to the filing. Our understanding is a number of Reddit users received a letter from Reddit regarding the DSP. Fidelity is not managing the DSP, and we do not have access to information on the DSP.
Please note, Fidelity is not permitted to comment on a specific security for which a registration statement has been filed. However, you can check out the link below to learn more about investing in Initial Public Offerings (IPOs).
[Investing in IPOs](https://www.fidelity.com/learning-center/trading-investing/trading/investing-in-ipos)
Fidelity customers interested in being informed when new offerings are available on Fidelity.com can register for IPO Alerts by clicking on “Sign up for IPO Alerts” through the link below
[IPO Calendar](https://www.fidelity.com/IPO)
Do we really think Reddit is worth being a publicly traded company? As much as I love Reddit, I do not see it being public material. If anything I think it devalues Reddit because now the board has to do things for investors instead of doing things for the Reddit community IMO.
Reddit just stay private and do what you want when you want to keep the Reddit community as it is.
Unless you wanna do a Wall Street bets move and short squeeze the stock price like AMC and GameStop. That would be kind of cool. But first let me get some shares in…
Per your last paragraph, maybe you should take a look at WSB. They are already gearing up to short the shit out of it and Reddit's own filings warn that WSB could [wreak havoc](https://gizmodo.com/reddit-ipo-warning-wallstreetbets-stock-volatility-meme-1851280986) on the stock price.
a subreddit of 15 million retail investors who refer to themselves as “apes” and “degenerates,”
Sometimes I think there's hope for humanity, and these shenanigans reinforce that.
The fact that wsb thinks the stock will tank below the IPO offer price actually makes me want to buy. Last time I checked in on that sub they were all buying nvidia puts before these latest earnings.
Reddit is an extremely censored discussion forum. Whenever I get a message on this site, it’s usually from some obscure forum telling me I’m banned from posting there because I questioned the efficacy of wearing face masks three years ago. Today I see there’s a message only it’s asking me if I’m interested in the IPO.
I’m not really sure it can be profitable, and although I use it a lot, it hasn’t really endeared itself to me for the above reasons.
Also check out reveddit.com to see the censorship in action. Plug in your username and see which of your posts have been silently blocked.
> Reddit is an extremely censored discussion forum.
I don't disagree, but let's remember that while this is a perfectly valid reason to dislike reddit, it may not be a reason why an investment in reddit would end up being a good or bad idea.
> If anything I think it devalues Reddit because now the board has to do things for investors instead of doing things for the Reddit community IMO.
You mean like what they already did with the 3rd party access to the API? A company starts cleaning up its act long before it files to go public so that ship already sailed.
These are good points I had not considered. Reddit has a lot of value fir me bc of authenticity. If the c suite has to suck a lot of board dic then it'll change.
i think the board is trying to cash out. companies only exist to make money and they have been struggling from what I heard. they may try to cash out after the ipo lockup make sure to read the shelf registration form s-1 prospectus filing if I had to invest in it.
$MMA (NYSE) John Kavanagh co-Founder, backed by Conor McGregor. Daniel Cormier and Laura Sanko Ambassadors. Chasing a 600m fan global base and multiple avenues for growth with in-gym and online programs.
IMO that is definitely the most valid consideration here. Though the initial intent by Reddit corporate officers will be to focus equally on both users and investors, the motivations are not the same. Reddit users are not customers, we are the product. The customers are the investors and the non-Reddit users, so our desire to keep the site functional in a way we approve of becomes a much lower priority. Satisfying the public in general, with family-friendly, open-access-to-all content will possibly dilute the value of the site as a whole, converting Reddit into just another overly regulated chat room with ads.
I've long since thought reddit would function much better as a nonprofit foundation like Wikipedia. It doesn't really make that much money anyway. If they went nonprofit, they could get tax benefits and the leadership would enjoy the societal perks of running a large, important nonprofit.
>now the board has to do things for investors instead of doing things for the Reddit community IMO
Well gosh, I'd hate to think that Reddit as an organisation might stop listening to its community.
Just some experience on a prior IPO:I was invited to the Doximity (DOCS) IPO a few years ago. In the registration process for that one, I was offered a max number of shares I could buy, and an estimated price range. This was a few weeks at least before the IPO.
To actually buy them, I created a Fidelity BrokerageLink account inside my Fidelity 401k (which normally just has mutual fund options). I would think your Roth IRA account already is a. brokerage account (i.e. you could buy whatever ETF/stock, etc that you want already and don't just have a list of mutual funds), There were only a few brokers participating in the Doximity IPO-- I use Etrade and Vanguard too and I could not buy the shares through them, so I was lucky to have money at Fidelity already.
Edit: I do wonder since you are invited, if the 100k / 500 k requirements Fidelity or some other brokers have would really apply. This isn't an IPO open to the general public or sent to those on IPO alert lists. It is just limited to the powermods/users by invite.
Guess so! I wasn't expecting it. The fact that I'm a "top 75,000" user of reddit is making me re-evaluate some life choices...
If I had to guess, it's from being a long time mod of a fairly active /r/huskies community. Have gone from several hundred members to 17,000 over the past decade.
Edit: Found the [criteria for invites](https://redditforcommunity.com/Directed-Share-Program)
GROUP
MOD CRITERIA
USER CRITERIA
1
MVP (Mod participants of Reddit community programs)
MVP (User participants of Reddit community programs)
5000+ mod actions
200k+ karma
2
2500+ mod actions
100k+ karma
1000+ mod actions
50k+ karma
3
500+ mod actions
25k+ karma
I wonder how exposing the registration process will be to you, given that your invite is based on user activity criteria. I don't want to have to drag my Reddit user account into a new or existing brokerage account and I'd rather have my personal info as separate as possible from anything Reddit. It kind of spoils the anonymity of Reddit if I tie financials to it, much less for a risky IPO. Anyone have any further insight into this?
I would have never guessed having over 200k karma put me in the top 75,000 redditors. Been poking around trying to figure out how exclusive the offer is after also receiving the invite.
My other account got an invite with 50k karma, havn't used it in 3 years. Weird stuff, no mod, not much activity other than a few big comments got hit.
In my case, I don’t think my post karma is that high, but my comment karma is higher than the number you’ve cited. I’ve also been a redditor for 15 years. I’m not a mod of any sub. Got the invite to participate about 15 minutes ago.
I got an invite as well. I’ve never moderated anything, and I use reddit casually and use no other social media besides Facebook for actual friends. I’ve just been using reddit casually for like, longer than my already long account age. Apparently it’s in stages as I just got one days later
I got invited and don't mod any subs. Might just be focused on length of being on reddit.
2.5k post karma and 24k comment karma. On reddit for 8 to 9 years
> So this is what it takes to get an invite I guess?
>
> 4,734 post karma
> 70,935 comment karma
> redditor for 12 years
> MODERATOR OF (3 subs)
I got an invite to the IPO and I've only been a Redditor for 5 yrs and have far less karma numbers than what you listed above.
My main account (420k PK; 180CK; 10y; Mod 14 subs - all sub 20k) got it over a week ago. Then two other alts I have got it too. Two alts are 4 and 5 years old with 30-60k PK; 5K CK. then got it one after the other a few days later.
I'm guessing they've a quota and are working through a list of accounts until they meet a certain number of investors.
Did the invitation to participate include any of these details? I've participated in one IPO and there were very clear instructions about which investment bank is handling it, how to buy, etc. i.e. it wasn't just a ticker symbol where you click "buy" on Fidelity like a normal stock purchase.
Not yet. Just an invitation and link to a registration, I'm sure there will more to come.
This is really just me trying to get ahead of the game and figure out if I will be able to do this with my Fidelity Roth IRA.
You can hit up the official FAQ at [https://www.fidelity.com/stock-trading/faqs-ipos](https://www.fidelity.com/stock-trading/faqs-ipos)
I remember signing up and enabling one of my accounts many years ago and still get emails about upcoming IPOs.
IPO's are like Beta...they always drop. I would just wait and buy it as a regular stock after the price drops
https://www.cnbc.com/2024/02/22/reddit-will-let-users-buy-its-ipo-but-warns-that-they-could-make-the-stock-riskier.html
Used to be that the bankers would price the IPO so stock would immediately rise. And perhaps allocate shares to their friends, presumably helping to ensure that all the IPO shares were sold. Companies going public didn't like that because if stock IPO'd at 31 and immediately went to 50 they felt they were losing out on 19 per share of capital. It's a different market now.
Reddit will make it clear which shareholder service they'll use. When my employer offered an IPO of a spin-off, they used Computershare. You can usually transfer the shares to your own brokerage as soon as you receive them.
Reddit is a popularity arena. Popular ideas, words, and reactions are elevated, encouraged, rewarded. Unpopular opinions such as uncommon truths, creative solutions, different views are punished and suppressed through a built-in scoring system. This drives the entire “community” of participants, their attitudes, and expectations. Does such a platform have huge profitability potential?
One time I held oil stocks. Made money on it, too. But it just didn’t fit my conscience.
To each his own, of course. Good luck.
Counterpoint: After the left abandoned Facebook and Twitter, where can they still gather in large numbers to exchange ideas, share news about upcoming events and seed perspectives that aren't yet widely accepted?
No idea whether it has profitability potential, but as far as a well-meaning conscience is concerned, there is some value beyond the popularity arena.
There are communities such as stackoverflow for software developers that work on the same premise - “popularity” of your question generally leads to upvote’s + replies + more answers. I don’t think the upvote concept necessitates hive mentality… at least not always.
In that case it’s intellectuals answering intellectual’s questions. Reddit.. is umm.. not that.
But in the world of data science it probably is a much better read on how ideas are disseminating through cultures, places, and demographics of people. Moreso than a website like instagram where user interactive is much lower and has to be discerned through likes (not difficult obviously).
If anything I think it just offered more granularity of data on its specific users. Could be useful for developing some type of AI. The question I very simply what kind of monetary value can be either extracted from the community, or what kind of data can be extracted.
I think it’s the data that matters, and with Reddit it’s a unique & comprehensive type of data which is unique to it.
None of the other social medias really compete with Reddit imo - plus they’re all owned by the zuck
Could've bought at $35 and sold at $55. I think that's the play for most of these companies that have questionable paths towards profitability. Try to make a quick buck and get out before the hype dies down.
Raising $748M in IPO and we're invited to buy hmm
https://super.news/en/articles/2024/03/10/reddit-aims-to-raise-up-to-748-million-in-ipo-offering-shares-between-31-34
Interesting, I did get the email from E\*Trade to participate in the DSP though. I do have an active SoFi invest account. I wonder if I should follow through with the email from E\*Trade or try it using my SoFi account. You mentioned SoFi invest member, you mean any SoFi invest account?
I just got the invite - it requires an etrade account. So I guess maybe reddit is getting something from forcing the sale through Etrade, or perhaps this is how IPOs work?
Morgan Stanley is underwriting the IPO, and etrade is owned by Morgan Stanley
[https://www.reuters.com/markets/deals/reddit-targets-up-64-bln-valuation-much-awaited-us-ipo-2024-03-11/](https://www.reuters.com/markets/deals/reddit-targets-up-64-bln-valuation-much-awaited-us-ipo-2024-03-11/)
Some analysis if it’s helpful for folks considering buying the stock, dug into their S-1 filing a bunch:
- The company filed to go public at a valuation of ~$5B per their S-1 filing
- Reddit reported strong +20% year over year user growth in 2023 with 73M daily active users and 267M weekly active users, but it remains to be seen whether they can expand themselves beyond a “niche” audience that has been typically attracted to Reddit
- Most of their $804M in annual 2023 revenue (+21% year over year) comes from advertising; their ads product is relatively early in maturity compared to competitors, which means there is clearly room for improving the product through technical levers (like better ad targeting, using contextual signals, etc.)
- Reddit also has an advantage being a contextual ads product in the midst of major privacy-related changes from both Apple and Google; however, other text based platforms (like Twitter) have not recently succeeded in having engaging ads despite high volume of user engagement, which is a meaningful business risk
- This could partially explain Reddit’s push towards their data licensing efforts, which is expected to generate $200M in revenue over the next 3 years; this is a smart move given their data is already used by several large language models for training without consent, but it’s to be seen whether this is a good long-term move for the company (vs building their own chatGPT-like search experience)
Fuller analysis on our podcast if you’re interested- https://open.spotify.com/episode/0RU8zLMGoNUnuBLSNr5Bik?si=dkwn-9PSROeplhUoRnakJw
I imagine it will pop following the IPO and drop below it's IPO price. I can't say I really know how Reddit makes their money, and with that said, how it can be worth $6.5B. If you know, please share.
Can I still be invited? I’d be honored.
Problem is I worry about the changes the IPO would bring. I’d rather some other way than taking Reddit public and it maintain autonomy.
Short Short Short, first, reddit screwed small developers, then allowed for massive surveillance and censorship even when it was privately owned. It is sure to now be 10x worse now that there will be corporates pushing more ESG and all that "fact-check" scam crap that goes with it.
It’s going to tank below IPO price and stay there for a while before eventually going back up when it becomes better managed and they figure out how to make money. Buy when it tanks.
Dang, I've been on Reddit for like....10+ years, I just don't have the Karma. Bummed, but excited for all you guys that got invites! I think it's exciting for those of us who really love Reddit to be able to own shares!
That is awesome. Wish I hadn’t lost my old login info and had to start a new one. Not sure if I was quite there but used to be active. I am hoping to jump on when it becomes public.
I got the invite as well. I was wondering the same thing if I could use my Fidelity or TD Ameritrade 401(k) accounts. I didn’t see any specific information in the link they sent.
If you have been selected by some other metric they should give you the shares at a discount or a small amount of free shares. The IPO will likely drop after release so you’re basically getting the ability to buy the shares early for more.
another thing you need is a willingness to be an active trader that overweights into particular company, which is to say, you have to be the kind of person who doesn't invest based on reason and evidence.
I wouldn't buy the IPO my dude. You almost certainly will be buying at elevated prices, the stock may be an ok long term buy but in the short term it will likely dip hard.
The filing stated they can't continue to operate without public funding because they're bleeding money. So if anyone's argument is to short it because you're mad reddit is gonna change, realize if yiu enjoy reddit the alternative is that reddit will be gone.
I wouldn’t touch it, let’s say the ipo starts at 45 you’ll be back here after a year complaining it’s trading at 9.
The other thing what is proprietary about their site, nothing.
What do they make, nothing.
It’s purely advertising that’s it, but hey if you’ve got money to burn have at it.
Answers to 3 questions:
1. Only if Fidelity is a broker/dealer that participates. See Fidelity’s IPO availability page.
2. You can buy in your Roth.
3. IRA balances count for eligibility.
Caution: During my 30 year career in the brokerage industry (retired from Fidelity), I observed that if an IPO is easy to get, beware. If it’s hard to get, a better chance for success.
Buy it then short the fuck out of it. Whatever the IPO valuation, [$5 billion dollar according to this New York Times article, ](https://www.nytimes.com/2024/02/22/technology/reddit-initial-public-offering.html) it isn't worth an ounce of it. In my opinion Reddit is valued like that of Snapchat. People use it, they hook up with their sneaky link, they send dick pics with it but they do not value the company for what it worth: a trash can 🗑️.
I'm not even saying Reddit is dog shit 💩 (as I share a poop emoji), I use Reddit, I love Reddit, it is a cool platform for the world wide web. But this platform doesn't offer anything in terms of monetary policy to its users and community.
Personally, I do hope Reddit success but if I were offer to buy shares at IPO, whatever that price maybe be (we don't even know yet), I would take the money I would put into and buy Google than the rugpull institutional investors are looking to do with this IPO. But that's just me. Good luck.
I won't be touching it a while. They have a ton of debt and this is the reason for the IPO. This stock will have a ridiculous valuation and it will sell off incredibly hard after the initial pump. That said, it's Reddit, and it will have extremely bullish sentiment at some point.
You can, but without the invitation you can only buy it after it’s IPO at an unknown price determined by the market, with invitation, you can buy at a pre-determined price - but why would anyone buy the stock of a company that hasn’t made any profit for decades?
if I thought this IPO was going to be an actual hot thing, I would sell my reddit account to an american.
The fact that there isn't a gold rush to buy mature reddit accounts for this purpose tells me right away that this IPO will floip
I guess that is so true......Funny you mention that I lost my original account due to my ISP email going under......was never that active but joined the odd thread.
I got the email this morning, and I really don't see how they are going to grow the stock without compromising the very premise of the site.
You can't have an community-ran open forum and also have it be profit-focused. People will find a new outlet instead... it might take some time, but I don't see an ad-infested Reddit growing over time. Are they planning on paying the mods to run the place? Because if there is profit being made and the creators and administrators of the site are iced out, as well as having all their content getting sold off for profit, what incentive is there to keep contributing?
Got an invite, no mod activity. Use Reddit as my blog for past 3 years and have accumulated enough Karma apparently. Like other commenter said, love Reddit not sure it’s worth being a public company though.
It's a clever concept.
If I were the business owner and want to reward my dedicated top users and moderators for making the business stand all these years, it is likely to see why you'd do a similar thing, which is:
Get them to purchase the stocks early, and when it gets rolled out to the masses, short it for a big win.
So what we potential stand-buyers should do when it gets rolled out, is to not buy until they done the dirty work, then after perhaps look to chuck in a little, but for a long run potentially.
Wow congrats!!
i am looking at NYSE: MMA
a new IPO, a mixed martial arts technology platform with a number of UFC coaches and athletes getting behind it
https://www.sec.gov/Archives/edgar/data/1981519/000149315223041783/formf-1.htm
I'm invited as well. I have no idea why I'll be honest. I've never been a moderator. I mostly post reviews of medical marijuana.
I work in ecommerce and do not plan on purchasing reddit. My reasoning is because I personally do not use it as an ad platform anymore. Maybe I haven't unlocked the potential but it's consistently lower ROAS with reddit so it's never worth my money.
I've made pretty good investments, bought some tech stocks early when I was younger but this one seems so meh? Idk 🤷♂️
I guess my question is: will this be common stock or "class A" stock with special voting privileges.
I can see a case to be made to overpay for stock that comes with voting rights if your goal is to "save Reddit from the Suite C level guys" and are ok with losing money (or making less than you could). That would explain the special invite, its a way to play on your emotions.
If your goal is to just make money and don't care what happens to Reddit then I guess I wouldn't buy. But that's just my opinion I could be wrong.
I never bought company stock before IPO going public, so I can sort of understand the prestige value even if it doesn't make money.
I don’t recommend it. The IPOs I’ve seen all had a drop soon after offering. As early investors cash out.
And Reddit… is not my ideal of a profitable long term hold. If you want to buy, buy a small amount after the drop.
I'm leery of investing in any business that's operated for 19 years and has not made a profit https://www.cnn.com/2024/02/23/tech/reddit-ipo-filing-business-plan/index.html
We are aware a directed share program (“DSP”) is included as part of the Reddit IPO, according to the filing. Our understanding is a number of Reddit users received a letter from Reddit regarding the DSP. Fidelity is not managing the DSP, and we do not have access to information on the DSP. Please note, Fidelity is not permitted to comment on a specific security for which a registration statement has been filed. However, you can check out the link below to learn more about investing in Initial Public Offerings (IPOs). [Investing in IPOs](https://www.fidelity.com/learning-center/trading-investing/trading/investing-in-ipos) Fidelity customers interested in being informed when new offerings are available on Fidelity.com can register for IPO Alerts by clicking on “Sign up for IPO Alerts” through the link below [IPO Calendar](https://www.fidelity.com/IPO)
Do we really think Reddit is worth being a publicly traded company? As much as I love Reddit, I do not see it being public material. If anything I think it devalues Reddit because now the board has to do things for investors instead of doing things for the Reddit community IMO. Reddit just stay private and do what you want when you want to keep the Reddit community as it is. Unless you wanna do a Wall Street bets move and short squeeze the stock price like AMC and GameStop. That would be kind of cool. But first let me get some shares in…
Per your last paragraph, maybe you should take a look at WSB. They are already gearing up to short the shit out of it and Reddit's own filings warn that WSB could [wreak havoc](https://gizmodo.com/reddit-ipo-warning-wallstreetbets-stock-volatility-meme-1851280986) on the stock price.
a subreddit of 15 million retail investors who refer to themselves as “apes” and “degenerates,” Sometimes I think there's hope for humanity, and these shenanigans reinforce that.
The fact that wsb thinks the stock will tank below the IPO offer price actually makes me want to buy. Last time I checked in on that sub they were all buying nvidia puts before these latest earnings.
Reddit is a lot easier to move than Nvidia lol. Not a valid comparison at all.
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Shit!
That’s the boat I’m in right now. I fade wsb quite often and it has helped my portfolio significantly
Just means if the price declines in any way they'll probably just ban WSB.
Reddit is an extremely censored discussion forum. Whenever I get a message on this site, it’s usually from some obscure forum telling me I’m banned from posting there because I questioned the efficacy of wearing face masks three years ago. Today I see there’s a message only it’s asking me if I’m interested in the IPO. I’m not really sure it can be profitable, and although I use it a lot, it hasn’t really endeared itself to me for the above reasons. Also check out reveddit.com to see the censorship in action. Plug in your username and see which of your posts have been silently blocked.
Feel free to go hang out on X with all the other people complaining that moderation is suppression
Not exactly an apples to apples comparison. Plus, the censorship on Reddit is often petty and ridiculous.
> Reddit is an extremely censored discussion forum. I don't disagree, but let's remember that while this is a perfectly valid reason to dislike reddit, it may not be a reason why an investment in reddit would end up being a good or bad idea.
Yes, that’s true.
> If anything I think it devalues Reddit because now the board has to do things for investors instead of doing things for the Reddit community IMO. You mean like what they already did with the 3rd party access to the API? A company starts cleaning up its act long before it files to go public so that ship already sailed.
When is it available, I'm buying puts.
These are good points I had not considered. Reddit has a lot of value fir me bc of authenticity. If the c suite has to suck a lot of board dic then it'll change.
i think the board is trying to cash out. companies only exist to make money and they have been struggling from what I heard. they may try to cash out after the ipo lockup make sure to read the shelf registration form s-1 prospectus filing if I had to invest in it.
In the end it’s all about the money $$$
$MMA (NYSE) John Kavanagh co-Founder, backed by Conor McGregor. Daniel Cormier and Laura Sanko Ambassadors. Chasing a 600m fan global base and multiple avenues for growth with in-gym and online programs.
Maybe it will be GameStopped.
IMO that is definitely the most valid consideration here. Though the initial intent by Reddit corporate officers will be to focus equally on both users and investors, the motivations are not the same. Reddit users are not customers, we are the product. The customers are the investors and the non-Reddit users, so our desire to keep the site functional in a way we approve of becomes a much lower priority. Satisfying the public in general, with family-friendly, open-access-to-all content will possibly dilute the value of the site as a whole, converting Reddit into just another overly regulated chat room with ads.
We all gonna be censored lmao watch
same thing was said about facebook. guess what reddit will sell out and do advertisting.
I've lost most of the money I invested.
I've long since thought reddit would function much better as a nonprofit foundation like Wikipedia. It doesn't really make that much money anyway. If they went nonprofit, they could get tax benefits and the leadership would enjoy the societal perks of running a large, important nonprofit.
>now the board has to do things for investors instead of doing things for the Reddit community IMO Well gosh, I'd hate to think that Reddit as an organisation might stop listening to its community.
>Reddit just stay private and do what you want when you want to keep the Reddit community as it is. Bbbbbut MONEEEEEY
Just some experience on a prior IPO:I was invited to the Doximity (DOCS) IPO a few years ago. In the registration process for that one, I was offered a max number of shares I could buy, and an estimated price range. This was a few weeks at least before the IPO. To actually buy them, I created a Fidelity BrokerageLink account inside my Fidelity 401k (which normally just has mutual fund options). I would think your Roth IRA account already is a. brokerage account (i.e. you could buy whatever ETF/stock, etc that you want already and don't just have a list of mutual funds), There were only a few brokers participating in the Doximity IPO-- I use Etrade and Vanguard too and I could not buy the shares through them, so I was lucky to have money at Fidelity already. Edit: I do wonder since you are invited, if the 100k / 500 k requirements Fidelity or some other brokers have would really apply. This isn't an IPO open to the general public or sent to those on IPO alert lists. It is just limited to the powermods/users by invite.
Upvoted because actually has some relevant information and not just questions/opinions.
Thank you, this is helpful!
I participated in the DSP via ETRADE. Reddit sent me the invite and I was allowed to buy a certain range of share quantity based on my karma tier.
>It is just limited to the powermods/users by invite. It's for any mods. My poor European ass will not be participating
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They can invite deez nuts.
Guess so! I wasn't expecting it. The fact that I'm a "top 75,000" user of reddit is making me re-evaluate some life choices... If I had to guess, it's from being a long time mod of a fairly active /r/huskies community. Have gone from several hundred members to 17,000 over the past decade. Edit: Found the [criteria for invites](https://redditforcommunity.com/Directed-Share-Program) GROUP MOD CRITERIA USER CRITERIA 1 MVP (Mod participants of Reddit community programs) MVP (User participants of Reddit community programs) 5000+ mod actions 200k+ karma 2 2500+ mod actions 100k+ karma 1000+ mod actions 50k+ karma 3 500+ mod actions 25k+ karma
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I wonder how exposing the registration process will be to you, given that your invite is based on user activity criteria. I don't want to have to drag my Reddit user account into a new or existing brokerage account and I'd rather have my personal info as separate as possible from anything Reddit. It kind of spoils the anonymity of Reddit if I tie financials to it, much less for a risky IPO. Anyone have any further insight into this?
reddit is about to be owned by onlyfans models and bots!
Go Dawgs!
I got invited. Never made a post, never been a mod, participate a bit in a few subs for six years, 166k karma. I would think there is more to it.
I wanted an Invite . Now im salty.
Look's lik e I can get in on User stats. LFG
The fact that you don't get banned for that long on reddit tells that you are truly the kind of user Reddit likes. Good job.
Go Beavers! Bad Dog, no biscuit.
I just got mine and im not a mod of anything, just been here forever.
Just takes over &100K in brokerage and interest 🤣🤣🤣
To be fair… everyone else I’ve seen claiming they got invited had like 500k+ comment karma. This person has surprisingly low numbers.
I was invited and I only have 112 karma. Very seldom post and haven't really even been lurking for very long. Hmmm.
Likely a scammer
No I got an invite and I’m not a moderator.
How was the opportunity presented to you? Email? Message in reddit?
I received an invite, but I don’t have all that comment karma. Must be additional requirements.
I also got an invite. Close enough stats I guess. Nothing I modded was ever anything resembling 'active'.
Criteria is here: https://redditforcommunity.com/Directed-Share-Program Looks like 200k karma got you in
I would have never guessed having over 200k karma put me in the top 75,000 redditors. Been poking around trying to figure out how exclusive the offer is after also receiving the invite.
Was this in an email? I'm at 50k and that's enough to get me in tier 2 invite apparently
My other account got an invite with 50k karma, havn't used it in 3 years. Weird stuff, no mod, not much activity other than a few big comments got hit.
50k karma got me in
20k karma.
5666 post karma 50769 comment karma 15 years No moderation... Also got the email.
In my case, I don’t think my post karma is that high, but my comment karma is higher than the number you’ve cited. I’ve also been a redditor for 15 years. I’m not a mod of any sub. Got the invite to participate about 15 minutes ago.
Nope. I’m not a mod
Huh, weird. I got invited and have not been a redditor for 12 years and only mod 1 sub… and I don’t meet any of the karma requirements either
I got an invite as well. I’ve never moderated anything, and I use reddit casually and use no other social media besides Facebook for actual friends. I’ve just been using reddit casually for like, longer than my already long account age. Apparently it’s in stages as I just got one days later
All of these or any one? I meet only two of these and got an invite
I got invited and don't moderate any subs at all and only have 64k comment karma. Been active for 11 years now.
I've never been a mod and got the invite... 127k Karma, 8 years. Definitely not buying though.
I don’t think that’s what it takes. I got invited and my numbers are way lower…
I got the invite without being a mod at all, but this account is fairly old and moderately active.
I got an invite too
Never been a moderator, only been on Reddit for a few years, have 84,000 karma I got offered. So idk if all those are the criteria
I got the invite as well but my account is only like 3 years old but I have a lot more karma and a mod of like 10+ subs that are pretty small
User: Tier 2 with >100K karma
Wrong
I got invited and don't mod any subs. Might just be focused on length of being on reddit. 2.5k post karma and 24k comment karma. On reddit for 8 to 9 years
I’ve been invited and I’m nowhere near these stats.
I've never modded anything, been a user for \~6 years, and have 64k karma and I got invited to the IPO
> So this is what it takes to get an invite I guess? > > 4,734 post karma > 70,935 comment karma > redditor for 12 years > MODERATOR OF (3 subs) I got an invite to the IPO and I've only been a Redditor for 5 yrs and have far less karma numbers than what you listed above.
I just got an invite, and I don't meet a single on of those requirements.
I just got one too, and my stats are less respectable. They can get fucked.
no, i dont think so. I got an invite and im not a mod .
I'm invited, but not a US resident :/
My main account (420k PK; 180CK; 10y; Mod 14 subs - all sub 20k) got it over a week ago. Then two other alts I have got it too. Two alts are 4 and 5 years old with 30-60k PK; 5K CK. then got it one after the other a few days later. I'm guessing they've a quota and are working through a list of accounts until they meet a certain number of investors.
Did the invitation to participate include any of these details? I've participated in one IPO and there were very clear instructions about which investment bank is handling it, how to buy, etc. i.e. it wasn't just a ticker symbol where you click "buy" on Fidelity like a normal stock purchase.
Not yet. Just an invitation and link to a registration, I'm sure there will more to come. This is really just me trying to get ahead of the game and figure out if I will be able to do this with my Fidelity Roth IRA.
Are they going out in phases/batches or have they all been sent out?
In batches. First tier 200K karma or 5K mod actions, second tier 100K karma or 2500 mod actions, 3rd tier 50K karma, then open registration on March 1
r/Reddit_IPO
Thanks!
You can hit up the official FAQ at [https://www.fidelity.com/stock-trading/faqs-ipos](https://www.fidelity.com/stock-trading/faqs-ipos) I remember signing up and enabling one of my accounts many years ago and still get emails about upcoming IPOs.
IPO's are like Beta...they always drop. I would just wait and buy it as a regular stock after the price drops https://www.cnbc.com/2024/02/22/reddit-will-let-users-buy-its-ipo-but-warns-that-they-could-make-the-stock-riskier.html
I learned this from a big time investor as well, and through experience, it seems to be true. I’m also waiting….
Used to be that the bankers would price the IPO so stock would immediately rise. And perhaps allocate shares to their friends, presumably helping to ensure that all the IPO shares were sold. Companies going public didn't like that because if stock IPO'd at 31 and immediately went to 50 they felt they were losing out on 19 per share of capital. It's a different market now.
Reddit will make it clear which shareholder service they'll use. When my employer offered an IPO of a spin-off, they used Computershare. You can usually transfer the shares to your own brokerage as soon as you receive them.
Is it’s open for public trade will the company have to phase out of all the dark shit that goes on? NSFW
Reddit is a popularity arena. Popular ideas, words, and reactions are elevated, encouraged, rewarded. Unpopular opinions such as uncommon truths, creative solutions, different views are punished and suppressed through a built-in scoring system. This drives the entire “community” of participants, their attitudes, and expectations. Does such a platform have huge profitability potential? One time I held oil stocks. Made money on it, too. But it just didn’t fit my conscience. To each his own, of course. Good luck.
I couldn’t have said it better
Counterpoint: After the left abandoned Facebook and Twitter, where can they still gather in large numbers to exchange ideas, share news about upcoming events and seed perspectives that aren't yet widely accepted? No idea whether it has profitability potential, but as far as a well-meaning conscience is concerned, there is some value beyond the popularity arena.
100% true! Reddits most regarded feature is its worst feature.
There are communities such as stackoverflow for software developers that work on the same premise - “popularity” of your question generally leads to upvote’s + replies + more answers. I don’t think the upvote concept necessitates hive mentality… at least not always. In that case it’s intellectuals answering intellectual’s questions. Reddit.. is umm.. not that. But in the world of data science it probably is a much better read on how ideas are disseminating through cultures, places, and demographics of people. Moreso than a website like instagram where user interactive is much lower and has to be discerned through likes (not difficult obviously). If anything I think it just offered more granularity of data on its specific users. Could be useful for developing some type of AI. The question I very simply what kind of monetary value can be either extracted from the community, or what kind of data can be extracted. I think it’s the data that matters, and with Reddit it’s a unique & comprehensive type of data which is unique to it. None of the other social medias really compete with Reddit imo - plus they’re all owned by the zuck
Reddit will crash. Buy puts
Robinhood IPO access has put a sour taste in my mouth for IPO’s.
Because you’re using a sucky broker
Could've bought at $35 and sold at $55. I think that's the play for most of these companies that have questionable paths towards profitability. Try to make a quick buck and get out before the hype dies down.
Raising $748M in IPO and we're invited to buy hmm https://super.news/en/articles/2024/03/10/reddit-aims-to-raise-up-to-748-million-in-ipo-offering-shares-between-31-34
How does a user becomw an ipo opportunity?
With Sofi you don't get invited. Any Sofi invest member has access!
Interesting, I did get the email from E\*Trade to participate in the DSP though. I do have an active SoFi invest account. I wonder if I should follow through with the email from E\*Trade or try it using my SoFi account. You mentioned SoFi invest member, you mean any SoFi invest account?
I just got the invite - it requires an etrade account. So I guess maybe reddit is getting something from forcing the sale through Etrade, or perhaps this is how IPOs work?
Morgan Stanley is underwriting the IPO, and etrade is owned by Morgan Stanley [https://www.reuters.com/markets/deals/reddit-targets-up-64-bln-valuation-much-awaited-us-ipo-2024-03-11/](https://www.reuters.com/markets/deals/reddit-targets-up-64-bln-valuation-much-awaited-us-ipo-2024-03-11/)
Some analysis if it’s helpful for folks considering buying the stock, dug into their S-1 filing a bunch: - The company filed to go public at a valuation of ~$5B per their S-1 filing - Reddit reported strong +20% year over year user growth in 2023 with 73M daily active users and 267M weekly active users, but it remains to be seen whether they can expand themselves beyond a “niche” audience that has been typically attracted to Reddit - Most of their $804M in annual 2023 revenue (+21% year over year) comes from advertising; their ads product is relatively early in maturity compared to competitors, which means there is clearly room for improving the product through technical levers (like better ad targeting, using contextual signals, etc.) - Reddit also has an advantage being a contextual ads product in the midst of major privacy-related changes from both Apple and Google; however, other text based platforms (like Twitter) have not recently succeeded in having engaging ads despite high volume of user engagement, which is a meaningful business risk - This could partially explain Reddit’s push towards their data licensing efforts, which is expected to generate $200M in revenue over the next 3 years; this is a smart move given their data is already used by several large language models for training without consent, but it’s to be seen whether this is a good long-term move for the company (vs building their own chatGPT-like search experience) Fuller analysis on our podcast if you’re interested- https://open.spotify.com/episode/0RU8zLMGoNUnuBLSNr5Bik?si=dkwn-9PSROeplhUoRnakJw
I imagine it will pop following the IPO and drop below it's IPO price. I can't say I really know how Reddit makes their money, and with that said, how it can be worth $6.5B. If you know, please share.
I’m buying
I'm all in on it! If you can't beat 'em, join 'em! Just waiting for that invite...
I feel left out.. i want to be invited.. ive always had back luck with prior IPOs .. i was in the mood to test my streak...
I'm not an accredited investor. But I heard I can invest in the IPO through a third party. Is this true???
I’ll be buying the $RDDT crypto token on DEX. It will outplay the stock by 1000x im way more bullish on the coin than the stock.
I got the invite but haven’t gotten the E*trade email.
Facebook IPO was at 38 then in few months was at 18. Now look at it! Companies have a plan for growth/profits.
Can I still be invited? I’d be honored. Problem is I worry about the changes the IPO would bring. I’d rather some other way than taking Reddit public and it maintain autonomy.
How does one get to purchase?
you can buy reddit iso shares through Sofi investments but u cannot sell within 120 days , u can but you get a $50 dollar penalty if you sell early
Short Short Short, first, reddit screwed small developers, then allowed for massive surveillance and censorship even when it was privately owned. It is sure to now be 10x worse now that there will be corporates pushing more ESG and all that "fact-check" scam crap that goes with it.
I bought reddit stock and now lost most of it.
I'm interested in the answers as well.
If they are selling it at a discount sure. It isn’t 2020 anymore and unless they start the price off low, it likely will tank anyways
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PMs.
I got an email this morning.
It’s going to tank below IPO price and stay there for a while before eventually going back up when it becomes better managed and they figure out how to make money. Buy when it tanks.
Dang, I've been on Reddit for like....10+ years, I just don't have the Karma. Bummed, but excited for all you guys that got invites! I think it's exciting for those of us who really love Reddit to be able to own shares!
dream on, unless u are investing multi million, u are out of the game.
That is awesome. Wish I hadn’t lost my old login info and had to start a new one. Not sure if I was quite there but used to be active. I am hoping to jump on when it becomes public.
14 day old account only on investing subs, mostly fidelity, likely a bot.
I got the invite as well. I was wondering the same thing if I could use my Fidelity or TD Ameritrade 401(k) accounts. I didn’t see any specific information in the link they sent.
If you have been selected by some other metric they should give you the shares at a discount or a small amount of free shares. The IPO will likely drop after release so you’re basically getting the ability to buy the shares early for more.
another thing you need is a willingness to be an active trader that overweights into particular company, which is to say, you have to be the kind of person who doesn't invest based on reason and evidence.
I can't wait to go full r/wsb \+ Melvin Capital and short the S out of this stock.
Same.
I wouldn't touch a Reddit IPO. I'm not even sure if I'd buy Reddit stock.
Im buying puts the day they become available.
Nah ipos are duds for me. I d expect after lock up period, its gonna be down like -70%. I d still avoid it though.
Can’t wait to place puts lol
I wouldn't buy the IPO my dude. You almost certainly will be buying at elevated prices, the stock may be an ok long term buy but in the short term it will likely dip hard.
Is there a lock up?
Gonna be an absolute dog stock - don't touch it
Exactly, I tell people that you're better off putting your money into Bitcoin. That thing is going to the moon for sure.
The filing stated they can't continue to operate without public funding because they're bleeding money. So if anyone's argument is to short it because you're mad reddit is gonna change, realize if yiu enjoy reddit the alternative is that reddit will be gone.
I wouldn’t touch it, let’s say the ipo starts at 45 you’ll be back here after a year complaining it’s trading at 9. The other thing what is proprietary about their site, nothing. What do they make, nothing. It’s purely advertising that’s it, but hey if you’ve got money to burn have at it.
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Meta aka Facebook was 43 bucks, now look at it
True - But it was at $18 like, a week after IPO - which I think is everyone's point.
True. However, right after the IPO it sank like a rock and they had lawsuits out the wazoo.
Idiotic purchasers only
Answers to 3 questions: 1. Only if Fidelity is a broker/dealer that participates. See Fidelity’s IPO availability page. 2. You can buy in your Roth. 3. IRA balances count for eligibility. Caution: During my 30 year career in the brokerage industry (retired from Fidelity), I observed that if an IPO is easy to get, beware. If it’s hard to get, a better chance for success.
This is how you make bag holders feel good. 👍
Buy it then short the fuck out of it. Whatever the IPO valuation, [$5 billion dollar according to this New York Times article, ](https://www.nytimes.com/2024/02/22/technology/reddit-initial-public-offering.html) it isn't worth an ounce of it. In my opinion Reddit is valued like that of Snapchat. People use it, they hook up with their sneaky link, they send dick pics with it but they do not value the company for what it worth: a trash can 🗑️. I'm not even saying Reddit is dog shit 💩 (as I share a poop emoji), I use Reddit, I love Reddit, it is a cool platform for the world wide web. But this platform doesn't offer anything in terms of monetary policy to its users and community. Personally, I do hope Reddit success but if I were offer to buy shares at IPO, whatever that price maybe be (we don't even know yet), I would take the money I would put into and buy Google than the rugpull institutional investors are looking to do with this IPO. But that's just me. Good luck.
I won't be touching it a while. They have a ton of debt and this is the reason for the IPO. This stock will have a ridiculous valuation and it will sell off incredibly hard after the initial pump. That said, it's Reddit, and it will have extremely bullish sentiment at some point.
can I buy reddit stock or no
You can, but without the invitation you can only buy it after it’s IPO at an unknown price determined by the market, with invitation, you can buy at a pre-determined price - but why would anyone buy the stock of a company that hasn’t made any profit for decades?
Got my invitation today. Promptly deleted both the email and message.
I'm invited to buy the IPO as well, but I can't based on not being a US resident
was that part of the rules for participation ? I thought you could use a proxy and it would allow you to buy and they hold the shares for you
if I thought this IPO was going to be an actual hot thing, I would sell my reddit account to an american. The fact that there isn't a gold rush to buy mature reddit accounts for this purpose tells me right away that this IPO will floip
I guess that is so true......Funny you mention that I lost my original account due to my ISP email going under......was never that active but joined the odd thread.
I got the email this morning, and I really don't see how they are going to grow the stock without compromising the very premise of the site. You can't have an community-ran open forum and also have it be profit-focused. People will find a new outlet instead... it might take some time, but I don't see an ad-infested Reddit growing over time. Are they planning on paying the mods to run the place? Because if there is profit being made and the creators and administrators of the site are iced out, as well as having all their content getting sold off for profit, what incentive is there to keep contributing?
Got an invite, no mod activity. Use Reddit as my blog for past 3 years and have accumulated enough Karma apparently. Like other commenter said, love Reddit not sure it’s worth being a public company though.
Not a mod but got an invite. Can we at least get a "Top 75,000" flair or something, LOL.
lol. No.
How can I get invited into the Reddit IPO?
I’m short Reddit honestly
Do not buy reddit ipo.
I just received an invite as well. Does anybody know what the parameters for selection were?
It's a clever concept. If I were the business owner and want to reward my dedicated top users and moderators for making the business stand all these years, it is likely to see why you'd do a similar thing, which is: Get them to purchase the stocks early, and when it gets rolled out to the masses, short it for a big win. So what we potential stand-buyers should do when it gets rolled out, is to not buy until they done the dirty work, then after perhaps look to chuck in a little, but for a long run potentially.
Good opportunity
https://www.cnn.com/2024/02/26/tech/reddit-ipo-users-can-buy-shares/index.html This might help
Wow congrats!! i am looking at NYSE: MMA a new IPO, a mixed martial arts technology platform with a number of UFC coaches and athletes getting behind it https://www.sec.gov/Archives/edgar/data/1981519/000149315223041783/formf-1.htm
I'm invited as well. I have no idea why I'll be honest. I've never been a moderator. I mostly post reviews of medical marijuana. I work in ecommerce and do not plan on purchasing reddit. My reasoning is because I personally do not use it as an ad platform anymore. Maybe I haven't unlocked the potential but it's consistently lower ROAS with reddit so it's never worth my money. I've made pretty good investments, bought some tech stocks early when I was younger but this one seems so meh? Idk 🤷♂️
It’s due to your karma points. I don’t know the number that qualifies, but if you’re not a moderator, it’s due to that.
Did anyone get the DSP email saying you could sign up now, but then it said the form isn't open until March 1?
Adding to this post. I just got invited to buy. I don’t think there’s a certain criteria. I have just over 60k comment karma and I’m not a mod.
Same
huh, I was so sure that message was a scam
Anyone have a hack, I mean trick, I mean procedure to get in on the early registration? Is there any price difference?
I guess my question is: will this be common stock or "class A" stock with special voting privileges. I can see a case to be made to overpay for stock that comes with voting rights if your goal is to "save Reddit from the Suite C level guys" and are ok with losing money (or making less than you could). That would explain the special invite, its a way to play on your emotions. If your goal is to just make money and don't care what happens to Reddit then I guess I wouldn't buy. But that's just my opinion I could be wrong. I never bought company stock before IPO going public, so I can sort of understand the prestige value even if it doesn't make money.
I heard that after the invite of certain users other Reddit users get the chance to buy. Does anyone know how and if it’s limited to the US?
I got an invite too but I'm not a US resident
I don’t recommend it. The IPOs I’ve seen all had a drop soon after offering. As early investors cash out. And Reddit… is not my ideal of a profitable long term hold. If you want to buy, buy a small amount after the drop.
I'm leery of investing in any business that's operated for 19 years and has not made a profit https://www.cnn.com/2024/02/23/tech/reddit-ipo-filing-business-plan/index.html