- Reddit plans to release on common stock market
- The company has already filed an application with the SEC
- Reddit didn’t mention the cost or the amount of the issue for “regulatory reasons”
On Wednesday Reddit filing a document with the US Securities and Exchange Commission (SEC) for the initial issue of securities. Details were not disclosed for “regulatory reasons”.
It is not yet known how many shares the company will issue on the market and at what price. Also on Reddit they did not spread about the timing.
The statement says the issue will take place after the regulator completes the review. Presumably, the first shares of the company will appear on the market early next year.
Also noted on Reddit that the platform is now in a state of calm, without noticeable fluctuations in the level of profitability. This creates favorable conditions for structural changes in business.
Recall that earlier Reddit announced plans to expand the system of rewarding site users with tokens based on Ethereum. The administration has created a separate site for this, where you can add any subreddit thread to the queue.
Tokens are awarded for content moderation, community activity, publication of new and unique materials. At the same time, it is not yet possible to exchange “coins”.
In November, a backend developer vacancy was opened for its own NFT platform.