Skip links
Reddit going for the stock exchange

Reddit on its way to the stock exchange

Social media platform Reddit has announced that it has taken the first step to register at the stock exchange. CEO Steve Huffman has earlier said the company was planning on going public but that there was no timetable for it.

In a statement, the company said it had “confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission (the ”SEC”) relating to the proposed initial public offering of its common stock.”

“The number of shares to be offered and the price range for the proposed offering have not yet been determined. The initial public offering is expected to occur after the SEC completes its review process, subject to market and other conditions.”

Read Also:  Value of Reddit doubled after Wallstreetbets

“We are in a quiet period, and for regulatory reasons, we cannot say anything further.”

The company last summer raised USD 700m in new funding, valuing it at more than $10 billion. The company says it has 50 million active daily users.

Read Also:  Social media losing importance as news source

Moonshot News is an independent European news website for all IT, Media and Advertising professionals, powered by women and with a focus on driving the narrative for diversity, inclusion and gender equality in the industry.

Our mission is to provide top and unbiased information for all professionals and to make sure that women get their fair share of voice in the news and in the spotlight!

We produce original content, news articles, a curated calendar of industry events and a database of women IT, Media and Advertising associations.

    Do you want an experienced opinion on a job issue?
    Moonshot Manager is here to answer!

      Moonshot community sharing thoughts and ideas, in a anonymous, safe environment.