How to Buy Reddit Stock in 2023

By Jessie Moore

Jessie Moore

Editor

Jessie Moore has been writing professionally for nearly two decades; for the past seven years, she's focused on writing, ghostwriting, and editing in the finance space. She is a Today Show and Publisher's Weekly-featured author who has written or ghostwritten 10+ books on a wide variety of topics, ranging from day trading to unicorns to plant care.

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Reviewed by Lincoln Olson

Lincoln Olson

Head of Content

Lincoln is an investor and content marketer. He has worked for financial advisors, institutional investors, and a publicly-traded fintech company. Lincoln holds degrees in Finance, Economics, and Accounting.

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In early 2021, Reddit users helped propel GameStop (NYSE: GME) from under $5 to over $500 a share in a matter of weeks. That’s insane.

It also demonstrates the power and potential of Reddit.

Want to leverage that power? You could hold out hope for the MOASS (“mother of all short squeezes”), or an even bigger spike on GME and other meme stocks like AMC (NYSE: AMC) — or you could join the legions of savvy investors who are wondering how to buy Reddit stock.

Despite talk of an IPO, Reddit is still a private company, so Reddit stock isn’t publicly available. However, you may not have to wait for the IPO.

If you’re an accredited investor, you can gain access to Reddit stock through companies like Equitybee — and there are plenty of ways for retail investors to get in on the action, too. Let’s get into it.

Reddit: The Basics

If you’re on the internet, you’ve probably heard of Reddit.

When the company was first launched by two University of Virginia roomies in 2005, it was meant to be the “front page of the internet” — an aggregator where users could upvote content.

It quickly became much more. Here’s what you should know about Reddit:

•  In 2006, Reddit was acquired by Condé Nast — the same company that publishes The New Yorker and Vogue. Later, ownership would shift to Condé Nast’s parent company, Advance Publications.
• As of March 2023, Reddit has an estimated 50 million unique daily users (“Redditors”)  and reports more than one billion unique visitors each month.
• According to Semrush, as of February 2023, Reddit is the 10th-most-visited website in the world and the 6th-most-visited site in the U.S.
• Reddit’s investors include but are not limited to Fidelity Investments (NYSE: FNF), Sam Altman, Snoop Dogg, and Jaret Leto.
• In 2021, Reddit was valued at $10 billion.

Now, let’s talk about how to buy Reddit stock.

Can You Buy Reddit Stock? Is Reddit Publicly Traded?

Reddit is not publicly traded. That means there’s no Reddit stock symbol and you won’t find a Reddit stock price online.

However, there are still ways to get exposure to the company and sector — whether you’re an accredited investor or not.

In the next few sections, you’ll learn:

• How to buy Reddit stock as an accredited investor
• Ways to get exposure to Reddit as a retail investor
• Other indirect ways to get exposure to Reddit

How to Buy Reddit as an Accredited Investor

Are you an accredited investor?

If so, you can invest in private companies like Reddit, Instacart, and Waymo. Here’s how.

Equitybee gives accredited investors access to hundreds of high-growth, VC-backed startups.

How does it work?

First, you fund employee stock options. This gives you a stake in a private company at past valuations.

Then, down the line, you get a percentage of proceeds from any successful liquidity events that may occur.

Sound good? Click on the image below to see Reddit’s current offerings on Equitybee:

Private companies like Reddit can be one of the most lucrative opportunities for accredited investors.

But even if you’re not an accredited investor, there are still plenty of ways to benefit from Reddit’s continued growth even if you can’t directly buy Reddit stock shares…

How to Buy Reddit as a Retail Investor

Reddit isn’t a public company, so retail investors cannot buy shares of the stock on any of the major exchanges. There has been talk of an initial public offering (IPO), but it hasn’t happened yet.

But that doesn’t mean there aren’t opportunities to get exposure to Reddit in other ways. Keep reading…

Who Owns Reddit?

After founding Reddit in 2005, college roommates Steve Huffman and Alexis Ohanian sold it to Condé Nast in 2006 for $10 million. (To put that in perspective, the company is now valued at $10 billion, with a B.)

Since 2011, Reddit has been owned and operated by Advance Publications — Conde Nast’s parent company. Co-founder Steve Huffman is currently the company’s CEO.

Does Fidelity Investments Own Reddit?

Fidelity Investments (NYSE: FNF) does not own Reddit.

However, the bank is a notable investor in Reddit and was a key player in the funding round that resulted in the company’s most recent $10 billion valuation.

How to Invest in Reddit Stock as a Retail Investor

We’ve already established that retail investors can’t buy Reddit stock. However, you can explore other company stocks that have connections to Reddit. Here’s how:

Social Media Plays

Reddit is not your average social media platform. But it is considered a social media company.

As such, retail investors may want to look at some of the companies that are considered Reddit competitors and might appeal to similar demographics, such as:

• Buzzfeed Inc. (NASDAQ: BZFD)
• Instagram, which is owned by Meta, AKA Facebook (NASDAQ: META)
• Pinterest (NYSE: PINS) — one-year chart below
• Snapchat (NYSE: SNAP)

Reddit Investors

Reddit may not be public, but a few of its major investors are:

• Fidelity Investments (NYSE: FNF)
• Tencent Holdings (OTCMKTS: TCEHY)

Additionally, on Reddit’s EquityBee page, you can get a glimpse of what Reddit investors also invested in:

Reddit Stock Picks

Remember: you should never rely on someone else’s stock picks without doing your own due diligence — trading can be risky and you can lose money.

That said, Reddit has a number of Subreddits dedicated to stock picks. For example, WallStreetBets is the famous subreddit chatroom responsible for the GameStop bonanza in 2021:

But there are plenty of other Subreddits dedicated to stocks. Here are just a few tickers that have been trending on Reddit lately:

• AirBnB (NASDAQ: ABNB)
• Disney (NASDAQ: DIS)
• Google (NASDAQ: GOOGL)

How to Buy the Reddit IPO

Rumor has it that Reddit’s gearing up for an IPO, but it hasn’t happened yet. Here’s how to buy Reddit stock if and when it happens:

1. Create or login to your brokerage account (if you don’t have one, we recommend eToro – it’s free)
2. Search for Reddit
3. Select how many shares you want to buy
4. Place your order
5. Monitor your trade

Reddit Stock Price Chart

As of early 2023, there is no Reddit stock — meaning there’s no Reddit stock price chart for you to check out.

But that’s not the only way to see how a company’s doing.

For one, check out Reddit’s funding history. As you can see, the company was most recently valued at $10 billion in 2021. Not bad…

Additionally, its app has experienced exponential growth…

And more than 35% of adults between 18 and 29 report using Reddit…

Not only does Reddit have incredible growth potential, but it has a dedicated customer base and disruptive business model — a trifecta that can really make stocks spike.

If you’re an accredited investor, consider checking out Reddit on Equitybee — if you’re a retail trader, either wait for the IPO or consider the ideas shared in this article!

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About the author

Jessie Moore

Editor

Jessie Moore has been writing professionally for nearly two decades; for the past seven years, she's focused on writing, ghostwriting, and editing in the finance space. She is a Today Show and Publisher's Weekly-featured author who has written or ghostwritten 10+ books on a wide variety of topics, ranging from day trading to unicorns to plant care.