Reddit files to list IPO on NYSE under the ticker RDDT

News Snapshot:

Social media company Reddit filed its IPO prospectus with the Securities and Exchange Commission on Thursday after a yearslong run-up. The company plans to trade on the New York Stock Exchange under the ticker symbol "RDDT." Reddit said it had $804 million in annual sales for 2023, up 20% from the $666.7 million it brought in the previous year, according to the filing. The social networking company's core business is reliant on online advertising sales stemming from its website and mobile app. The company said it has incurred net losses since its inception. It reported a net loss of $90.8...