Reddit has filed paperwork to become a publicly traded company.
The “community of communities” announced it filed for an Initial Public Offering on the New York Stock Exchange on Thursday.
The company intends to trade under the ticker symbol “RDDT.”
Reddit CEO Steve Huffman has invited long-time users to buy the shares alongside investors.
“Our users have a deep sense of ownership over the communities they create on Reddit. This sense of ownership often extends to all of Reddit,” Huffman said in an S-1 filing. “We want this sense of ownership to be reflected in real ownership—for our users to be our owners. Becoming a public company makes this possible.”
The filing notes only users in the U.S. can participate.
More than 500 million visitors used Reddit in December, with 73 million daily active users from around the world. The company plans to support this growth by increasing the platform’s awareness, modernizing search, and growing its international user base.
The filing further notes Reddit has been “exploring business opportunities” involving licensing its data for AI training purposes. The company has already struck a $60 million USD (roughly $80.9 million CAD) deal with Google.
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