Reddit files to go public, first social media IPO in years
Reddit is filing to sell stock in an initial public offering, the first social media IPO since 2019. LiveNOW’s Lexie Petrovic spoke about the Reddit’s decision with Washington Examiner technology reporter Christopher Hutton.
Thousands of Reddit members reported issues accessing the social media platform on Wednesday.
Error reports began to increase at around 3:00 p.m. ET on Downdetector, an internet monitoring service. There was a spike of more than 46,000 error reports for Reddit at 3:35 p.m. ET, according to Downdetector.
At 4:38 p.m. Reddit said it was looking into the issue.
At 1 p.m. there were still more than 21,000 users impacted.
The majority of consumers (58%) indicated that the website was the problem. Some users cited an issue with the app and posting.
Reddit logo is displayed in the Apple App Store on an iPhone. (Credit: Sheldon Cooper/SOPA Images/LightRocket via Getty Images)
FOX Television Stations reached out to Reddit for information.
This is a developing story. Check back for more updates.
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