Reddit to go public in potential $15 billion IPO

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Reddit to go public in potential $15 billion IPO

by  Team Luno

What

Social news website Reddit has confidentially filed papers in the USA to go public

Why

Reuters reported in September that the company was hoping to hit a valuation of more than $15 billion by the time it planned to list its shares.

What next

The listing will go ahead in the new year

The story

Reddit, the social news website, has confidentially filed to list on the New York Stock Exchange, Reuters reports.

The site came to prominence earlier in the year as its readers banded together to support so-called Meme stocks – stocks that weren’t performing better than expected but that had a special meaning for Reddit readers, like GameStop.

Investors in the website over the years have included venture capital firm Andreessen Horowitz, funds such as Sequoia Capital and Tencent Holdings, as well as rap star Snoop Dogg. It attracts around 52 million users per day.

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