Tuesday, August 16

Reddit prepares to go public

Reddit it no longer wants to be just a digital space about action memes, nerve center of the same since the beginning of the year. Therefore, he has decided go public and has made a confidential filing with the SEC according Richard Waters en Financial Times.

The San Francisco-based company said Wednesday night that it had filed a confidential file for an initial public offering with the Securities and Exchange Commission.

La Ley Jumpstart Our Business Startups de 2012 allowed companies to apply to go public in the US. without posting your prospect until the end of the process, provided that your last annual income were less than a billion dollars.

Reddit said it had yet to determine how many shares it would sell or a likely price range for the shares. Put your rating on $ 10 billion at the time of your last fundraising round, in August, up from the $ 6 billion Reddit said was valued six months earlier.

The website of small and anonymous investors

The role of the platform as a forum where users appear under pseudonymsInstead of requiring “real” identities, it has set it apart from other social networking sites.

This year, the forum WallStreetBets became a force on Wall Street through the meme stock frenzy, as individual investors used the same to coordinate your purchases and raise the prices of various stocks, such as game retailer GameStop.

The founders of Reddit have said that the spirit of “anything goes” it was never his intention when creating the website and its function as a haven for freedom of expression came about by accident.

In recent years, the company has been committed to monitor your forums more actively and in build an advertising business for transfer to public markets.

Reddit has had a long and winding road to Wall Street. It was founded in 2005, a year after Facebook, and was bought by Condé Nast a year later for 10 million dollars.

It was later re-spun off as a separate company and went through a series of CEOs before the cofundador Steve Huffman He will be back to run Reddit and prepare it for listing.


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