Social media platform Reddit said on Wednesday it had confidentially filed for a proposed initial public offering (IPO) with the US Securities and Exchange Commission (SEC).
Reddit, known for its message boards that became the go-to destination for day traders during this year's meme stock frenzy, was looking at a valuation of more than $15 billion, Reuters had reported in September.
The company was valued at $10 billion in a private fundraising round earlier this year.
The San Francisco-based firm had retail investors flocking to its message boards for tips on trading GameStop Corp and other meme stocks.
Reddit had roughly 52 million daily active users and over 100,000 communities, or "sub-reddits," as of October last year.
Its biggest investors include Fidelity Investments, Andreessen Horowitz, Sequoia Capital and Tencent Holdings.
Reddit did not disclose the number of shares to be offered or the price range of the IPO in the statement.
UAE advances agentic AI project targeting 50% of government operations
Dubai Business Forum – China to be held in Shenzhen in October
UAE-BRICS non-oil trade tops $312 billion
ADNOC affirms commitment to meeting customer requirements despite challenges
Meta ordered to pay $567 million in New Mexico for teen mental health fund
