The Wall Street Journal: Reddit says it has confidentially filed IPO paperwork with SEC
Reddit Inc. said it has confidentially filed paperwork with the U.S. Securities and Exchange Commission for an initial public offering, an announcement that comes at the tail end of a banner year for stock-market debuts.
The company said in a blog post that it had started the paperwork with the SEC but didn’t share any further details.
“The number of shares to be offered and the price range for the proposed offering have not yet been determined,” it said in the post. “The initial public offering is expected to occur after the SEC completes its review process, subject to market and other conditions.”
As of August, Reddit said it had a valuation of about $10 billion after raising more than $400 million from Fidelity Investments Inc. In February, the social-media company said it had raised about $500 million at a $6.5 billion valuation.
Market Pulse (September 2021): Reddit seeking advisers for IPO at $15 billion valuation: report
Reddit has been looking to build on the attention it gained when at the start of the year its WallStreetBets forum became a hot spot for the individual investors who rallied around GameStop Corp.
and other stocks.
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