Reddit Confidentially Submits Draft Registration Statement for Proposed IPO
The number of shares to be offered and the price range for the proposed offering have yet to be determined.
Dec 16, 2021 at 3:40 a.m. UTCUpdated May 11, 2023 at 4:11 p.m. UTC
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/SWNWKYXPQZFWJNJPA446CB7GRI.jpg)
/arc-photo-coindesk/arc2-prod/public/LXF2COBSKBCNHNRE3WTK2BZ7GE.png)
Reddit has confidentially submitted a draft registration statement with the U.S. Securities and Exchange Commission (SEC) for a proposed initial public offering (IPO) of its common stock, the company announced Wednesday on Twitter.
- The number of shares to be offered and the price range for the proposed offering have yet to be determined, the announcement said.
- The IPO is expected to occur after the SEC completes its review process, subject to market conditions.
- Reddit is in a “quiet period,” and for regulatory reasons cannot disclose more information, the announcement said.
- The social media platform announced in January it was expanding its work with the Ethereum Foundation to provide development resources to scaling tools. In the announcement, posted to the Ethereum subreddit, Reddit employee u/jarins said the move increases the company’s commitment to the technology and echoes its long-held “decentralized ethos.”
- Wednesday’s release does not constitute an offer to sell or the solicitation to buy any securities, Reddit said in a disclaimer.
00:56
What's Stopping Congress From Passing Crypto Regulation?
19:02
Sen. Lummis Addresses Algorithmic Stablecoin Ban in New Bill
14:59
Why Bitcoin May Fall to $52K
02:15
JPMorgan Expects Bitcoin to Drop After Halving; New Zealand Starts Digital Cash Consultation
:format(webp)/s3.amazonaws.com/arc-authors/coindesk/84817985-13a3-47f4-a3ba-e577f3c798ec.png)
Greg Ahlstrand was previously CoinDesk's Asia News Editor. Greg has no significant crypto holdings.