after the IPO, shareholders extract value not provide it

The total IPO raise was $748 million when including existing shareholder sales, Reddit itself raised approximately $519 million by issuing 15.3 million new shares at $34 each. After fees, Reddit's net proceeds from the IPO were estimated at around $450.9 million.

Reddit was valued at around $6.4 billion based on its total outstanding shares after the IPO.

Huffman still has majority voting power and if the share price holds for one year will get even more Class B shares.

after the IPO, shareholders extract value not provide it