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(Reuters) – The social media platform Reddit said on Wednesday that it had secretly submitted an initial public offering (IPO) to the U.S. Securities and Exchange Commission.
Reddit, known for its message boards that became the destination of this year’s merchants, was looking at a valuation of more than $ 15 billion, Reuters reported in September.
The company valued $ 10 billion in private fundraising earlier this year.
San Francisco-based retailer brings retail investors closer to their message boards for trading tips GameStop Corp. (NYSE 🙂 and other meme shares.
Reddit had about 52 million active users and more than 100,000 communities in October last year.
Its largest investors are Fidelity Investments, Andreessen Horowitz, Sequoia Capital and Tencent Holdings (OTC :).
Reddit did not disclose the number of shares to be offered or the IPO price range in the statement.
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