In what is certain to be one of many hottest public choices in tech in years, Reddit has announced it has formally filed to go public. However for now, Reddit is holding its playing cards near its chest and hasn’t revealed a lot data apart from it will go public. Right here’s what it’s worthwhile to know:
- What’s Reddit? Reddit is the uber-popular social media platform that is named “the entrance web page of the web.” Reddit is actually a large message board with hundreds of thousands of energetic and dedicated customers sharing all the pieces from their ideas on politics to directions for how one can bake the proper cookie. The corporate was based in 2005.
- How is Reddit going public? Within the very temporary announcement the corporate made, Reddit stated it’ll go public by way of a standard preliminary public providing, or IPO. Yep, no SPACs right here.
- What number of Reddit shares might be accessible for its IPO? Nobody is aware of but–not even Reddit, apparently. The corporate’s assertion notes “The variety of shares to be supplied and the worth vary for the proposed providing haven’t but been decided.”
- How a lot will Reddit shares value? That too is unknown. See the above assertion.
- What market will Reddit commerce on? That’s not recognized at the moment both.
- What’s going to Reddit’s stock ticker be? You guessed it: nobody is aware of but.
- What do we all know? Solely that Reddit has confirmed it has “confidentially submitted a draft registration assertion on Type S-1” with the SEC to take itself public.
- Why is Reddit being so secretive? The corporate actually could not know what number of shares it desires to supply at this level or have determined how a lot it desires to lift. And given Reddit’s IPO is predicted to be one of many hottest of the yr (at any time when that’s – doubtless 2022) the corporate most likely doesn’t wish to announce details, which may change, till nearer to the IPO.