Reddit goes public

Reddit has announced that it will begin publicly trading shares in the company on the stock exchange. The company has taken a first step in this regard by notifying the US SEC about its upcoming IPO.

Details about the IPO are not yet available, such as when it will be, how many shares will come and at what price Reddit will sell it. Reddit has confirmed the move on its own site. The company was worth $10 billion in an investment earlier this year.

About 1,400 people are said to be working at the site around this time. There are over 50 million daily active visitors to the site, who are active in over 100,000 subreddits in total. Reddit has been around since 2005 and has previously made plans to go public.