Reddit, the self-anointed 'front page of the internet,' soars in debut

Reddit's IPO marked a significant event as it became the first social media platform to go public since 2019. The stock opened at $34 and quickly rose to $47, reflecting high market excitement. Despite its popularity, Reddit has faced financial challenges, with over $700 million in losses. The IPO could lead to increased commercialization, potentially affecting its community-driven nature. Reddit set aside shares for its users, allowing them to trade without the typical waiting period. The platform's future includes potential partnerships and new features, but commercialization may alienate some users.

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