Reddit, one of the most popular social media platforms in the world, has recently focused more on its sectoral growth. Making a statement a few months ago and announcing that it has reached a valuation of 10 billion dollars, the company has now officially announced that the public offering process has been launched. The company has submitted its IPO registration documents, which are classified as S-1, to the US Securities and Exchange Commission (SEC).
In the statements made by the Reddit management, it was announced that the number of stock lots and lot prices to be offered to the public are not yet clear. Underlining that they cannot talk more due to legal regulations, the company seems to become the number one agenda of technology enthusiasts in the near future.
It was actually known that Reddit would go public
The paperwork Reddit submitted to the SEC didn’t surprise anyone. Because the company has been on the agenda for a while with the allegations that it will be offered to the public. In fact, when Reddit CEO Steve Huffman announced that they had reached a valuation of 10 billion dollars, he said that the platform would definitely go public one day. The latest development means that the expected day has come.
Reddit has a long but not difficult process ahead of it. The company will now await regulatory reviews. With the completion of the approval process, all investors will be able to get a share of Reddit, which will be listed on the stock market. Time will tell where stock returns will take Reddit.
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