Series F-1 issuance-price evidence
Table snapshot; actual purchase date unknown.
Source & date details
Note 12: December 31, 2023 preferred-stock table
Published Feb 13, 2025 · Checked Sep 17, 2026
2024 Form 10-K (opens in a new tab)THE PRIVATE-TO-PUBLIC JOURNEY
Reddit · Before & after the IPO
Start with a private share price. Follow the evidence into public markets.
Filing-based illustrationRDDT · USD
Approximate marked value on Dec 31, 2024
≈ $26,450.88
$10,000.00 at the Series F-1 issuance price, carried forward as 161.838485 Class A-equivalent shares.
2.65× price multiple from private entry+380.71% public close vs. IPO offer price
- 01
Private issuance price
Purchase date unknown
$10,000.00$61.79 per share · as reported - 02
IPO offer-price mark
Mar 25, 2024
$5,502.51$34.00 per share - 03
Public closing-price mark
Dec 31, 2024
$26,450.88$163.44 per share
A price mark, not money received. No sale is assumed. An individual holder’s ability to sell is unknown. Fees, tax and distributions are excluded.
Inspect this endpoint’s evidence
$163.44 · Class A common closing price on Dec 31, 2024.
2025 proxy: 2024 Outstanding Equity Awards, footnote 1. Published Apr 28, 2025; source checked Sep 17, 2026.
Read 2025 proxy statement ↗Calculation record & sources
Keep the inputs, source observations, assumptions and method version used for this result.
Download calculation recordInspect the record
{
"methodVersion": "private-ipo-bridge-1.2.0",
"revision": "rddt-ipo-preview-v1",
"privateRevision": "ctm-research-2026-10-01",
"kind": "approximate_private_to_public_price_mark",
"company": "reddit",
"instrumentId": "RDDT-CLASS-A-NYSE",
"inputs": {
"modelId": "RDDT-F1-IPO",
"markId": "RDDT-CLOSE-2024-12-31",
"amount": "10000.00",
"currency": "USD"
},
"markedValue": "26450.88",
"offerMarkedValue": "5502.51",
"changeFromOffer": "20948.37",
"priceMultiple": "2.6451",
"priceChangePercent": "164.51",
"publicPriceChangePercent": "380.71",
"commonShareEquivalents": "161.838485",
"markDate": "2024-12-31",
"reviewedOn": "2026-09-17",
"stages": [
{
"id": "RDDT-F1",
"stage": "Private issuance price",
"date": null,
"dateRole": "purchase_date_unknown",
"price": "61.79",
"value": "10000.00"
},
{
"id": "RDDT-OFFER",
"stage": "IPO offer-price mark",
"date": "2024-03-25",
"dateRole": "offering_completion",
"price": "34.00",
"value": "5502.51"
},
{
"id": "RDDT-CLOSE-2024-12-31",
"stage": "Public closing-price mark",
"date": "2024-12-31",
"dateRole": "market_session_close",
"price": "163.44",
"value": "26450.88"
}
],
"evidence": {
"privateObservations": [
{
"id": "RDDT-F1",
"company": "Reddit",
"date": "2023-12-31",
"dateRole": "historical_table_snapshot",
"value": "61.79",
"currency": "USD",
"scope": "per_share_issuance_price",
"qualifier": "",
"shareClass": "Series F-1 preferred",
"source": "https://www.sec.gov/Archives/edgar/data/1713445/000171344525000018/rddt-20241231.htm",
"locator": "Note 12: December 31, 2023 original-issue-price table and Conversion",
"publisher": "SEC · Reddit filing",
"verification": "primary_verified",
"checkedOn": "2026-09-17",
"supportingSources": []
},
{
"id": "RDDT-OFFER",
"company": "Reddit",
"date": "2024-03-25",
"dateRole": "offering_completion",
"value": "34.00",
"currency": "USD",
"scope": "public_offer_price_per_share",
"qualifier": "",
"shareClass": "Class A common",
"source": "https://www.sec.gov/Archives/edgar/data/1713445/000171344525000018/rddt-20241231.htm",
"locator": "Note 1: Initial Public Offering",
"publisher": "SEC · Reddit filing",
"verification": "primary_verified",
"checkedOn": "2026-09-17",
"supportingSources": []
}
],
"publicObservation": {
"id": "RDDT-CLOSE-2024-12-31",
"company": "reddit",
"instrument_id": "RDDT-CLASS-A-NYSE",
"currency": "USD",
"value": "163.44",
"date": "2024-12-31",
"date_role": "market_session_close",
"price_basis": "as_reported_unadjusted_close",
"share_basis": "as_reported_2024",
"share_class": "Class A common",
"source_id": "RDDT-PROXY",
"source_locator": "2025 proxy: 2024 Outstanding Equity Awards, footnote 1",
"value_status": "reported",
"verification": "primary_verified"
},
"conversion": {
"effective_date": "2024-03-25",
"preferred_to_common_factor": "1",
"listed_equivalent_factor": "1",
"from_class": "Series F-1 preferred",
"to_class": "Class A common",
"listed_class": "Class A common",
"split_handling": "already_reflected_do_not_apply_again",
"source_ids": [
"RDDT-PROSPECTUS",
"RDDT-ANNUAL",
"RDDT-PROXY"
],
"source_locators": [
"Note 12: December 31, 2023 preferred-stock table",
"2024 Form 10-K Notes 4 and 12"
],
"note": "Series F-1 converts directly to Class A at 1:1. Reviewed as-reported units through the selected endpoint; no additional split is applied."
},
"publicBasisReview": {
"from_date": "2024-03-25",
"through_date": "2024-12-31",
"units_factor": "1",
"status": "reviewed_selected_endpoints",
"source_ids": [
"RDDT-ANNUAL",
"RDDT-PROXY"
],
"source_locators": [
"2024 Form 10-K Notes 4 and 12",
"2025 proxy: 2024 Outstanding Equity Awards, footnote 1"
],
"note": "Selected Class A endpoint only. No holder-specific transaction or additional units are inferred."
},
"restrictions": {
"status": "holder_eligibility_unknown",
"source_id": "RDDT-PROSPECTUS",
"source_locator": "Shares Eligible for Future Sale: Lock-up Agreements",
"note": "Lock-up and market-standoff conditions apply. A historical price does not establish that a particular holder could sell."
},
"sources": [
{
"id": "RDDT-PROSPECTUS",
"title": "Final IPO prospectus",
"url": "https://www.sec.gov/Archives/edgar/data/1713445/000162828024012380/reddit-final424b4.htm",
"published_on": "2024-03-21",
"publisher": "Reddit · SEC filing",
"retrieved_on": "2026-09-17",
"verification": "primary_verified",
"publication_rights": "approved_for_public_use",
"production_approved": true,
"publication_review": {
"date": "2026-09-17",
"basis": "Attributed factual observations from SEC EDGAR public filings; no artwork or endorsement",
"policy_url": "https://www.sec.gov/about/webmaster-frequently-asked-questions"
}
},
{
"id": "RDDT-ANNUAL",
"title": "2024 Form 10-K",
"url": "https://www.sec.gov/Archives/edgar/data/1713445/000171344525000018/rddt-20241231.htm",
"published_on": "2025-02-13",
"publisher": "Reddit · SEC filing",
"retrieved_on": "2026-09-17",
"verification": "primary_verified",
"publication_rights": "approved_for_public_use",
"production_approved": true,
"publication_review": {
"date": "2026-09-17",
"basis": "Attributed factual observations from SEC EDGAR public filings; no artwork or endorsement",
"policy_url": "https://www.sec.gov/about/webmaster-frequently-asked-questions"
}
},
{
"id": "RDDT-PROXY",
"title": "2025 proxy statement",
"url": "https://www.sec.gov/Archives/edgar/data/1713445/000171344525000092/rddt-20250428.htm",
"published_on": "2025-04-28",
"publisher": "Reddit · SEC filing",
"retrieved_on": "2026-09-17",
"verification": "primary_verified",
"publication_rights": "approved_for_public_use",
"production_approved": true,
"publication_review": {
"date": "2026-09-17",
"basis": "Attributed factual observations from SEC EDGAR public filings; no artwork or endorsement",
"policy_url": "https://www.sec.gov/about/webmaster-frequently-asked-questions"
}
}
]
},
"sourceIds": [
"RDDT-F1",
"RDDT-OFFER",
"RDDT-CLOSE-2024-12-31"
],
"purchaseDate": null,
"cagr": null,
"realizedProceeds": null,
"saleEligibility": "unknown",
"formula": "amount ÷ reviewed preferred issuance price × reviewed conversion factors × selected Class A closing price",
"assumptions": [
"Fractional share equivalents; no rounding until displayed.",
"Series F-1 preferred converts to Class A common using 1:1; listed equivalents use 1:1.",
"No additional split or generic dilution deduction.",
"No holder-specific adjustment or extra securities."
],
"limitations": [
"Approximate share-equivalent model using the precision published by the issuer.",
"A historical table date or issuance month is not an exact purchase date. No annualized return.",
"Price-only mark, not total return: distributions, fees, tax and inflation are excluded.",
"No sale, allocation, lock-up exemption or ability to access proceeds is established.",
"Selected historical closes only; no daily curve, maximum drawdown or current quote.",
"Source checking does not clear commercial redistribution rights."
],
"timeline": [
{
"id": "RDDT-PRIVATE",
"date": "2023-12-31",
"kind": "private_snapshot",
"title": "Series F-1 issuance-price evidence",
"note": "Table snapshot; actual purchase date unknown.",
"source_id": "RDDT-ANNUAL",
"source_locator": "Note 12: December 31, 2023 preferred-stock table"
},
{
"id": "RDDT-CONVERSION",
"date": "2024-03-25",
"kind": "conversion",
"title": "IPO completion and share conversion",
"note": "Preferred shares converted immediately before offering completion. Offer price: $34.00.",
"source_id": "RDDT-ANNUAL",
"source_locator": "2024 Form 10-K Notes 4 and 12"
}
],
"timelineSources": [
{
"id": "RDDT-PROSPECTUS",
"title": "Final IPO prospectus",
"url": "https://www.sec.gov/Archives/edgar/data/1713445/000162828024012380/reddit-final424b4.htm",
"published_on": "2024-03-21",
"publisher": "Reddit · SEC filing",
"retrieved_on": "2026-09-17",
"verification": "primary_verified",
"publication_rights": "approved_for_public_use",
"production_approved": true,
"publication_review": {
"date": "2026-09-17",
"basis": "Attributed factual observations from SEC EDGAR public filings; no artwork or endorsement",
"policy_url": "https://www.sec.gov/about/webmaster-frequently-asked-questions"
}
},
{
"id": "RDDT-ANNUAL",
"title": "2024 Form 10-K",
"url": "https://www.sec.gov/Archives/edgar/data/1713445/000171344525000018/rddt-20241231.htm",
"published_on": "2025-02-13",
"publisher": "Reddit · SEC filing",
"retrieved_on": "2026-09-17",
"verification": "primary_verified",
"publication_rights": "approved_for_public_use",
"production_approved": true,
"publication_review": {
"date": "2026-09-17",
"basis": "Attributed factual observations from SEC EDGAR public filings; no artwork or endorsement",
"policy_url": "https://www.sec.gov/about/webmaster-frequently-asked-questions"
}
},
{
"id": "RDDT-PROXY",
"title": "2025 proxy statement",
"url": "https://www.sec.gov/Archives/edgar/data/1713445/000171344525000092/rddt-20250428.htm",
"published_on": "2025-04-28",
"publisher": "Reddit · SEC filing",
"retrieved_on": "2026-09-17",
"verification": "primary_verified",
"publication_rights": "approved_for_public_use",
"production_approved": true,
"publication_review": {
"date": "2026-09-17",
"basis": "Attributed factual observations from SEC EDGAR public filings; no artwork or endorsement",
"policy_url": "https://www.sec.gov/about/webmaster-frequently-asked-questions"
}
}
]
}BEHIND THE NUMBERS
What this scenario means for an investor.
This scenario applies the stated share prices and conversion assumptions to your chosen amount. The result is a hypothetical value, not a completed transaction.
- Your amount vs. the investment minimum
- Your amount sets the size of the illustration. It does not establish the minimum required to join that funding round.
- Access depends on the offering
- Investor eligibility and allocations depend on the offering’s terms. A recorded funding price does not mean everyone could invest at that price.
- Direct shares and fund units differ
- A direct share and a unit in a fund or investment vehicle can have different rights and costs. This scenario does not establish a specific investment route.
- A price is not a cash exit
- Lockups, transfer restrictions and available buyers can affect a holder’s ability to sell. The displayed value does not assume a sale.
EXPLORE THE OUTCOME
What happened after the IPO?
These historical marks do not describe the full price path. More dates appear only after their evidence is reviewed.
| Closing date | Class A price | Approx. value |
|---|---|---|
| Dec 31, 2024 (selected endpoint) | $163.44 | $26,450.88 |
Keep your research together. Save a journey to revisit its original numbers and sources.Open saved research →
UNDERSTAND YOUR RESULT
A clear bridge between share prices.
Amount ÷ private price × conversion factors × public close
Calculations retain full precision until display. The issuer’s rounded entry price is retained; the model is approximate. The result is a hypothetical price mark.
Which shares are being compared?
Series F-1 maps directly to Class A at 1:1. This models equivalent units, not an actual holder’s conversion.
How are splits and dilution handled?
Reviewed as-reported share units. No additional split or generic dilution deduction is applied.
Could an investor have sold at these prices?
Lock-up and market-standoff conditions apply. A historical price does not establish that a particular holder could sell. Holder-specific terms, actual execution prices and cash proceeds are unknown.
Why is there no annualized return or continuous chart?
A table date or issuance month does not establish an exact purchase date. The available public closes are selected evidence points. They cannot establish an annualized private return, daily price history, maximum drawdown or a current value.
The events behind the numbers
3 dated milestonesPricing, trading and conversion happened on different dates. The filing publication date may be later than the event it describes; this is retrospective research.
- Private evidence
- Share conversion
IPO completion and share conversion
Preferred shares converted immediately before offering completion. Offer price: $34.00.
Source & date details
2024 Form 10-K Notes 4 and 12
Published Feb 13, 2025 · Checked Sep 17, 2026
2024 Form 10-K (opens in a new tab) - Public closing price
$163.44 public closing price
Reported Class A closing price. A historical mark does not establish a holder’s ability to sell.
Source & date details
2025 proxy: 2024 Outstanding Equity Awards, footnote 1
Published Apr 28, 2025 · Checked Sep 17, 2026
2025 proxy statement (opens in a new tab)
Go deeper into the private evidence.
Read the original preferred-share observations and their limitations, or explore the coverage available for other companies.
Historical research preview · Sources checked Sep 17, 2026. No investment access is offered. Source checking does not establish investment availability or permission for commercial redistribution.