Reddit information are revealed
Steve Huffman CEO Reddit will give remarks on the subject of “Redesigning Reddit” on the third day of the Web Summit at the Altice Arena on November 8, 2017 in Lisbon, Portugal.
Horacio Villalobos | Corbis | Getty Images
Reddit announced on Wednesday that it had filed a confidential filing of a draft registration statement with the Securities and Exchange Commission to go public.
The social media company did not make the submission public. The company also did not disclose the number of shares being offered or the price range for the proposed offer.
Despite being founded in 2005, Reddit has taken a unique path toward going public.
Conde Nast Publications acquired Reddit in 2006. Social media services remained a part of the publishing company until it was converted into a separate subsidiary in 2011. Since then, it has raised a number of funding rounds from venture capital firms.
Most recently, the company announced it raised a $ 700 million round valued at more than $ 10 billion in August 2021.
At the time of this funding round, the company said it had $ 100 million in advertising revenue in the second quarter of 2021, 192% more than a year earlier.