Reddit confidentially files to go public

Published by
Reuters

(Reuters) -Reddit Inc, known for its message boards that became the go-to destination for day traders during this year’s meme stock frenzy, said on Wednesday it had confidentially filed for an initial public offering with U.S. securities regulators. Founded in 2005 by Steve Huffman and entrepreneur Alexis Ohanian, Reddit was valued at $10 billion in a private fundraising round earlier this year. Reuters reported in September that the company was hoping for a more than $15 billion valuation by the time an IPO takes place. The filing comes as U.S. IPOs touched record highs in 2021, fueled by amp…

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