Reddit applies for IPO in the USA Market

Social discussion platform Reddit has filed for papers with the US Securities and Exchange Commission to go public. The company made a statement saying that it has confidentially submitted a draft registration with the US SEC which is related to the proposed initial public offering of its stocks.

It has yet not made any announcement about the number of shares and the price range for the Initial Public Offering. The IPO will go public, once the SEC completes its review process. The CEO of the company, Steve Huffman has said that Fidelity’s investment would give them more time to decide on when and how to go public.

It is also planning to raise its staff to around 1,400 employees. Reddit was founded in 2005 and has around 52 million daily users as of August.