What Reddit's IPO Means for Users
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Get the 5-minute newsletter keeping 2M+ innovators in the loop: https://thehustle.co/ Reddit's IPO could make some of its most loyal users rich, or it may anger them more about the company's decision to go public. Reddit filed to go public on Thursday, and it plans to sell an undetermined number of shares to 75k of its most loyal users, according to the Wall Street Journal. This means Redditors will have the chance to buy shares before the stock begins publicly trading. This is usually only an option for really wealthy investors. If the stock price rises, it could lead to huge financial gains for users, or it could backfire if the stock falls and angers the Reddit community, a group that WSJ says "hasn't shied away from boycotts in the past."