Share this article

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.

(Shutterstock)
(Shutterstock)

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.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto for Advisors Newsletter today. See all newsletters

Read more: Reddit Rolls With Arbitrum to Scale Its Ethereum-Based Community Points System

Greg Ahlstrand

Originally from California, I've been Asia-based since 1999, headquartered in Hong Kong and Jakarta and traveling throughout the Asean countries, Japan, Korea, the Chinese mainland and Taiwan for stories. Made Australia a couple of times, too. I started my journalism career as a news assistant at the Fresno Bee in Central California while studying the subject in school after the Navy. I went from launching and recovering helicopters on flight decks at sea to recovering papers fresh off the printer in the Bee's basement and launching them onto the editors' desks, whose editors had long since gone home for the night. Eventually, they let me stop delivering the paper and start writing stuff in it. My first beat was night cops: liquor store robberies, gang shootings, fatal car crashes (almost always alcohol related). It was an education. I am, as implied above, a U.S. Navy veteran. I served in seagoing helicopter squadrons as an aviation anti-submarine warfare technician throughout the Asia Pacific region and the Indian Ocean. I have a significant number of sailor stories to tell. I have no significant crypto holdings. Among my hobbies are welding, building stuff, home remodelling, (or knocking a house down and starting from scratch if it's too far gone to fix), riding horses and rebuilding old tractors. So far I've done a Ford 8N and a Ford 9N. It's slow going, because I live in Hong Kong and the tractors are in California, so I only get to work on them once or twice a year, for a week or two at a time - and that was before covid. I love my Lab, Cooper, whom my neighbors asked me to adopt two years ago when they moved back to Shanghai from Hong Kong. Cooper and I actually planned the whole thing -- we've known each other almost his whole life -- but his first parents are unaware of the conspiracy; and they send him Christmas presents every year.

Greg Ahlstrand