Last week, Business Insider reported that Reddit's looking to launch its long-awaited IPO in 2024, at a target valuation of $15 billion.
To put that into context, X, which has 250 million daily users (versus Reddit's 70 million DAU), and will bring in over $2 billion in ad revenue in 2023 (versus Reddit's $800 million) is currently valued at $19 billion.
The difficult part in assessing Reddit is trying to measure exactly how well it's going, because while it has increased its active user numbers over the past few years, rising from 52 million DAU in 2021 to 70 million now, it actually had a lot more users four years back.
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