Reddit is hiring investment bankers and lawyers for an initial public offering in New York.
A month ago, Reddit was valued at $10 billion in a private fundraising round. As a result, by the time the IPO takes place early next year, the firm hopes to be valued at more than $15 billion.
The timing and size of the IPO are subject to market conditions. Thus, they remain confidential.
Recently, Steve Huffman, the CEO of Reddit, stated that the company was planning to go public in a recent interview with the New York Times.
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Reddit was founded by Steve Huffman, Alexis Ohanian, and Aaron Swartz in 2005. In October 2006, Condé Nast Publications acquired the site. Afterward, the website became an independe...