"Reddit, Inc. today announced that it has confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange (the "SEC") relating to the proposed initial public offering of its common stock," Reddit said in a statement.
The company refrained from giving additional details in compliance with regulatory "quiet period" rules during the SEC's review.
The statement also said that IPO will be launched after the SEC completes its review process and that the numbers of shares and the price range were still to be settled.
Reddit's IPO will take place following the social media platform's announcement in March that Drew Vollero, who had previously worked on Snapchat's IPO, would be joining the company as its first chief financial officer.