By AFP 16 December 2021 | 2:56 pm Social media platform Reddit said Wednesday it has confidentially submitted a draft registration with the US Securities and Exchange Commission to go public on Wall Street. (FILES) This file illustration photo taken on January 29, 2021 shows the logo of social media platform Reddit on a mobile phone in Arlington, Virginia. – Social media platform Reddit said on December 15, 2021 that it has confidentially submitted a draft registration with the US Securities and Exchange Commission to go public on Wall Street. (Photo by Olivier DOULIERY / AFP) Social media platform Reddit said Wednesday it has confidentially submitted a draft registration with the US Securities and Exchange Commission to go public on Wall Street. Reddit Inc said in a statement that it has “confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission (the ‘SEC’) relating to the proposed initial public offering of its common stock.” The company said it had not yet determined the number of shares that will be offered nor the price range for the stock. “The initial public offering is expected to occur after the SEC completes its review process, subject to market and other conditions,” added the company, which did not make the registration form public. Created in 2005 by two students from Virginia, the discussion platform was bought in 2006 by Conde Nast, which publishes magazines such as Vogue, The New Yorker and Vanity Fair. The company became an independent subsidiary in 2011. The platform announced in August that it had raised $700 million during a fundraising campaign led by Fidelity Management, which valued the network at more than $10 billion. Reddit showed its influence in January 2021, when an army of small-time stock traders, communicating on its pages, rocked Wall Street by betting against the stocks that had gone viral like those of the video store chain GameStop. Latest 23 mins ago Ben Affleck has set the record straight on his comments about ex-wife Jennifer Garner which made headlines early this week. Speaking on Jimmy Kimmel Live, the Tender Bar actor addressed news making rounds on his comments about his divorce, noting that it “made it seem as if I was saying the exact opposite of what I said.” “I… 25 mins ago Power outage on Thursday stalled the coroner inquest investigating the circumstances that led to the Nov.1 collapse of a 21-storey building located on Gerard Road, Ikoyi, Lagos. 36 mins ago The Nigeria government plans to toll the Lagos-Ibadan Expressway, the ongoing 2nd Niger Bridge, and other roads, to repay loans used to build them, according to Godwin Emefiele. “All of the roads will be tolled. And we know that in many other countries in the world, roads are tolled because those projects are commercially viable,”… 38 mins ago Vice President Yemi Osinbajo says henceforth there will be a more aggressive accountability audit of Federal Government agencies. 42 mins ago The North-western Governor’s Forum has said that to have a banditry-free society, all stakeholders must show commitment at fighting the menace.
Comments