December 5, 2022

Reddit has filed for an preliminary public providing via a confidential draft registration observation with the U.S. Securities and Alternate Fee. Whilst the timing of the IPO is unclear, the submitting comes after a robust yr of public choices for generation firms. 

It additionally comes after Reddit’s personal WallStreetBets staff drew the eye of regulators and marketplace professionals for the so-called meme inventory explosion previous this yr. Meme shares are publicly traded firms reminiscent of GameStop and AMC that generate buzz by means of social media networks like Reddit in spite of steadily shedding cash. 

Customers on WallStreetBets greeted Reddit’s IPO announcement with each glee and fear, with some individuals expressing worries that it would mark the tip of the social-media corporate’s freewheeling tradition. Others chatted about purchasing the inventory — or probably shedding cash on it. 


Reddit staff WallStreetBets hit through bot job

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Reddit, which introduced its plan to head public on Wednesday on its company weblog, did not percentage any information about its IPO. For the reason that registration was once confidential, its main points don’t seem to be to be had to the general public. 

Reddit has attracted greater than $1 billion in investment, with an August funding from mutual-fund large Constancy, consistent with Crunchbase. The social media corporate is valued at about $10 billion. 

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