US SEC Accepts Reddit Application…

US SEC Accepts Reddit Application… post thumbnail image

Company representatives did not disclose details of the forthcoming list.

The Reddit platform intends to go public. To this end, project representatives submit appropriate applications to the American Securities and Exchange Commission (SEC). Information about this appears in a press release.

  • As of this writing, there have been no online details about Reddit’s upcoming IPO. In particular, it is not known how many shares and at what price the platform team will sell.
  • As a reminder, Reddit was launched in 2005. The platform combines the features of forums and social networks.
  • In 2021, Reddit was in the spotlight as a group of forum members managed to set up a stock pump. The success of this initiative made market participants wary of the opportunities offered by the Reddit community. Forum members themselves, meanwhile, are constantly looking for new targets for the pump.
  • During its existence, the project has repeatedly managed to attract large amounts of funds. Reddit’s list of investors includes Fidelity Management and Tencent. According to CrunchBase, the total amount of funding successfully withdrawn by the project has stopped at $1.3 billion.
Information about Reddit’s investment round. Source: CrunchBase

Bear in mind that earlier information appeared on the network that the expansion of the Reddit rewards program could flood the market with new tokens.

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