Social-media platform Reddit — the home of AMAs, Wall Street Bets and thousands of other online communities — publicly filed its registration statement for an IPO on Thursday, detailing plans to push further into advertising, data sales and analytics, and what it called its budding user-driven economy. The company, founded in 2005, plans to trade on the New York Stock Exchange under the ticker symbol “RDDT.” The filing did not disclose the number of shares to be offered or their potential price. Morgan Stanley, Goldman Sachs, JPMorgan and BofA Securities are the lead book-running managers.
Reddit first confidentially filed a draft registration statement for a proposed public offering in 2021. Reddit also said it would offer some of those shares in the IPO to its users and moderators, depending on their reputation and contribution to the platform. Those participants would need to be over the age of 18, live in the U.S. and have an account on or before Jan. 1. “We want this sense of ownership to be reflected in real ownership — for our users to be our owners,” co-founder and Chief Executive Steve Huffman said in Reddit’s IPO filing. …
Article Attribution | Read More at Article Source
Reddit first confidentially filed a draft registration statement for a proposed public offering in 2021. Reddit also said it would offer some of those shares in the IPO to its users and moderators, depending on their reputation and contribution to the platform. Those participants would need to be over the age of 18, live in the U.S. and have an account on or before Jan. 1. “We want this sense of ownership to be reflected in real ownership — for our users to be our owners,” co-founder and Chief Executive Steve Huffman said in Reddit’s IPO filing. …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]