Reddit, known for its
message boards that became the go-to destination for day traders during this
year's meme stock frenzy, was looking at a valuation of more than $15 billion,
Reuters had reported in September.
The company was valued
at $10 billion in a private fundraising round earlier this year
The San
Francisco-based firm had retail investors flocking to its message boards for
tips on trading GameStop Corp and other meme stocks.
Reddit had roughly 52
million daily active users and over 100,000 communities, or
"sub-reddits," as of October last year.
Its biggest investors
include Fidelity Investments, Andreessen Horowitz, Sequoia Capital and Tencent
Holdings .
Reddit did not
disclose the number of shares to be offered or the price range of the IPO in
the statement. - Reuters
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