Social news and discussion website Reddit announced filing for an Initial Public Offering (IPO) of its common stock with the US SEC.
Related: WallStreetBets Reddit Forum to Launch Its Own Cryptocurrency
As the company mentioned in a tweet, the number of shares and the price aren't determined yet. The IPO is supposed to be held after the SEC's review, subject market, and other conditions.
Reddit is known for its forums and discussions related to the crypto sphere. The website is one of the most favorite places for crypto traders and most discussions on Reddit were crypto-related in 2022.
Due to user discussions, GameStop and other meme stock shares increased in prices.
As Reddit announced in a 2021 recap, there have been more than 500 crypto communities on the platform over 10 years. Users mentioned the word crypto 6.6 M times in their posts. Previously, the website announced expanding its program of rewarding Ethereum-tokens "Community Points".