Reddit has filed for its listing on the Stock Exchange
One more ! Reddit announces that it has filed its file to be able to enter the Stock Exchange. The online platform that is attracting more and more Internet users has provided all the documentation to the SEC, namely the American stock market policeman, to make its debut on Wall Street.
Soon Reddit on the Stock Exchange
Reddit indicated “Have confidentially submitted a draft registration statement (…) to the Securities and Exchange Commission regarding an initial public offering of its ordinary shares”. The number of shares that will be offered and the price range have not yet been determined. “The IPO will take place after the SEC completes its review process, subject to market and other conditions.”, adds the group, which has not made the registration dossier public at this stage.
The platform announced in August that it had raised $ 700 million during a fundraising campaign led by Fidelity Management, which valued the network at more than $ 10 billion. Reddit showed its influence in January 2021, when armies of stock marketers communicating on the network rocked Wall Street by betting against stocks that went viral like those of the video game store chain GameStop.
This summer, Reddit reported that it had $ 100 million in advertising revenue in the second quarter of 2021. This was almost a 200% increase from the same period a year earlier. .
