Reddit Files for IPO After Igniting the Year’s Meme Stock Frenzy
- The home of WallStreetBets was valued at $10 billion this year
- Critics have alleged lax moderation allows toxic content
This article is for subscribers only.
Reddit Inc., the social media platform that helped fuel this year’s meme stock frenzy, said it has confidentially filed for an initial public offering.
The San Francisco-based company said Wednesday in a statement that the number of shares and proposed price range for an IPO haven’t been determined. It said the listing is expected to occur after the U.S. Securities and Exchange Commission completes its review process, subject to market and other conditions.