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Reddit Files to Go Public
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variety.comTodd Spangler NY Digital EditorReddit, the popular internet discussion platform valued at more than $10 billion, said it has confidentially submitted a draft registration statement with the SEC for a proposed initial public offering.Reddit announced the IPO filing Wednesday and had previously said it was contemplating going public.
The company said its hands were tied in releasing any additional info, noting, “We are in a quiet period, and for regulatory reasons, we cannot say anything further.”Word that Reddit is officially planning to launch an IPO comes after it announced $700 million in new funding in August, which the New York-based company said gave it a post-money valuation of more than $10 billion.Reddit has said it plans to double.
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