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Reddit files to go public

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Reddit CEO Steve Huffman delivers remarks about ‘Redesigning Reddit’ during the third Day of Web Summit at Altice Arena. November 08th, 2017, Lisbon, Portugal.

Horacio Villalobos | Corbis | Getty Images

Reddit Wednesday announcedThe Securities and Exchange Commission has received a confidential draft registration statement from the company. This document will be published.

This filing was not made public by the social media company. The social media company did not disclose the number of shares offered, nor the pricing range.

Reddit was established in 2005. However, the site has been on a very unique path to going public.

Conde Nast Publications bought Reddit on June 6, 2006. Reddit, a social media service provider, remained part of Conde Nast Publications until its acquisition by the company in 2006. It has raised several rounds of capital from venture capital companies since then.

The company recently announced that it raised $700million in a round. in August 2021At a value of over $10 billion

The company stated that its advertising revenues had risen 192% to $100 million during that second quarter 2021 funding round.

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