According to Reuters,

Morgan Stanley and Goldman Sachs have been tapped as the lead underwriters for Reddit's IPO, which includes more than a dozen other banks.

That's an impressive assurance.

This, and the 21% revenue growth in 2023 (though debt at $91m) show, I think, that anyone considering the investment will want to know how Reddit's 'promoted' content will improve.

A website with 267.5 million weekly active users should already be highly profitable. Any potential investment would have to include knowledge of Reddit's plans to improve its advertising revenue, and I see no evidence of these plans. The company takes too much in operating costs and pays its directors too much.

Moreover, major subs like /r/worldnews are routinely hijacked by Chinese and Indian shills. Correcting that level of user and mod abuse at a major sub would be unlikely at Reddit. Moreover, Chinese/Tencent ownership of Reddit is approximately 7.5%, and Reddit has a history of censoring content the CCP doesn't like.

All things considered, potential investors would be really curious about Reddit's future, as a top social media website which is however heavily influenced by foreign political groups.