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Reddit files to list IPO on NYSE under the ticker RDDT

The social media company, founded in 2005 by technology entrepreneurs Alexis Ohanian and Steve Huffman, has raised about $1.3 billion in funding and has a post valuation of $10 billion, according to deal-tracking service PitchBook.

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Reddit files to list IPO on NYSE under the ticker RDDT

4 Key Takeaways From Reddit's IPO Filing

Reddit Discloses Bitcoin and Ether Holdings in IPO Filing

Social media company Reddit filed its IPO prospectus with the Securities and Exchange Commission on Thursday after a yearslong run-up.

 The company plans to trade on the New York Stock Exchange under the ticker symbol “RDDT.”Its market debut, expected in March, will be the first major tech initial public offering of the year.

It’s the first social media IPO since Pinterest went public in 2019.

Reddit filed for initial public offering (IPO) on Thursday.

The SEC filing revealed the company's recent financials and its investments in cryptocurrency.

OpenAI CEO Sam Altman has invested more than $60 million into Reddit ahead of its IPO.

The company said it would reserve a number of shares for its users selected based on contributions to the community.

The company also acquired ether and Polygon "as a form of payment for sales of certain virtual goods.”

The disclosure came as part of an IPO filing on Thursday.

Reddit said it has invested some of its excess cash in bitcoin (BTC) and ether (ETH) and it also acquired Polygon (MATIC).

The San Francisco-based company is hoping to be listed on the New York Stock Exchange in March under the ticker "RDDT."