"Reddit's Journey to IPO: Valuation, Expectations, and Challenges"
Reddit, a social media platform, is set to go public in one of the first tech initial public offerings of the year, despite facing a tumultuous journey. After a leadership crisis in 2015, co-founder Steve Huffman returned to lead the company, which had struggled with management turnover, ownership complexities, and technological lag. Despite stagnation and controversies, including its stance on free speech and advertising, Reddit's revenues grew to over $800 million annually under Huffman's leadership. The company's move to go public is notable as it represents a throwback to an earlier era of social media and comes at a time when investors have been skeptical of tech offerings.