Nvidia has unveiled a new unified application — Nvidia App, designed to replace and combine both GeForce Experience and the Nvidia Control Panel into one streamlined platform.

The company submitted an S-1 filing to the U.S. Securities and Exchange Commission (SEC), disclosing its financials and business plans ahead of its initial public offering (IPO) on the New York Stock Exchange under the ticker RDDT.

According to the filing, Reddit generated $804 million in revenue last year, 98% of which came from advertising. However, the company remains unprofitable, reporting a net loss of $90.8 million in 2023. Reddit currently has 267.5 million weekly active users, over 100,000 active communities, and more than 1 billion posts.

Reddit will allow an unspecified number of power users — including moderators and highly ranked contributors — to purchase shares during the IPO. This is a rare privilege, typically reserved for institutional investors.

Shares will be distributed through a tier-based system, beginning with selected users and moderators who have significantly contributed to Reddit’s community programs. After this, shares will become available to those with a karma score of at least 2000 and to individuals who have completed 5,000+ moderator actions.

Additionally, Reddit has set aside 1.3 million Class A shares to support community-related initiatives designed to help users bring their ideas to life.

The company is also planning to monetize its platform through data licensing and AI training, an area projected to generate up to $60 million annually.

Interestingly, OpenAI CEO Sam Altman has invested more than $60 million in Reddit stock and currently holds 9.2% voting power. Altman first invested in Reddit back in 2014 and continued in 2021.