Late Wednesday night, the popular social platform Reddit announced that it had started the process of making the company public. The company filed a confidential S-1 with the United States Securities and Exchange Commission to go public.
Per SEC regulations, it cannot provide any details about shares or prices until after a quiet period is over to protect trade secrets from being leaked before an initial public offering (IPO) date is set. The SEC filing confirmed long-running rumors about Reddit’s plans for a public offering.