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Rumors come true - social network Reddit plans to go public



 After much speculation, Reddit is now officially announcing an imminent IPO.


Major social network Reddit announced this week that it was preparing to go public. To this end, the company has already submitted a corresponding application to the US Securities and Exchange Commission.


According to SEC regulations, no details about the amount of company shares and their price may be disclosed in advance until a period of silence has expired. This is intended to ensure investor protection by ensuring that no important data is leaked outside of the system before it is introduced.


With the latest application, Reddit also confirms the rumors that have been circulating for a long time that the social network is planning an IPO. Only in August, the platform additional investment capital of 700 million US dollars had been collected , which the company valuation now to over 10 billion US dollars increases. But this money is probably well invested, because in the second quarter of 2021 alone the network generated 100 million US dollars from advertising income, which corresponds to an increase of almost 200% over the previous year.


“Our IPO will take place as soon as the SEC has completed its review process and the market situation and external framework conditions indicate this,” Reddit said in the application .


In the battle for advertising revenue and attention, Reddit competes directly with the other social media giants Facebook and Twitter. CEO Steve Huffman points out that his company has been overshadowed by Facebook and Google, which is why every dollar remains highly competitive.


Reddit has therefore already oriented itself towards crypto. The social network is already issuing its own "crypto currency" in the form of Reddit Community Points .



As of August, Reddit has 52 million daily users and more than 100,000 active subreddits.

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