Reddit has never turned a profit in nearly 20 years, but it just filed to go public anyway

News Snapshot:

New York CNN — Reddit, the message board site known for its chronically online userbase and for originating much internet discourse, filed for its long-anticipated initial public offering on Thursday. The move would make Reddit the first major social media company to go public since Snapchat in 2017. And the offering will come with a twist that could allow some of the most fervent of its more than 70 million daily users to buy shares in the IPO — an opportunity typically reserved for institutional investors. Reddit said it will reserve shares for top users to buy, based on their...