TECH - Reddit Social Media Giant Behind GameStop Saga Plans $10B March IPO | Benzinga
Social media player Reddit is set to launch its initial public offering in March, marking a significant move after three years of contemplation.
Reddit is an American social news aggregation, content rating, and discussion website.
Registered users submit content to the site, such as links, text posts, images, and videos, which other members then vote up or down.
The San Francisco-based company, valued at approximately $10 billion in 2021, is gearing up to sell about 10% of its shares during the IPO, Reuters noted, citing insider sources.
The meme stock rally in 2021, with Gamestop (NYSE:GME) stock at the center, took off mainly on Reddit with the r/wallstreetbets subreddit. Social media plays a big role in investing with young investors.
Redditt’s IPO, the first major ...