Reddit files for initial public offering ahead of stock market debut
by Kari Paul and wires from on (#6JTTH)
The platform's listing, expected in March, would be the largest IPO by a social media company since Pinterest went public in 2019
Reddit set the stage for its highly anticipated stock market debut, preparing investors for the largest initial public offering by a major social network in four years.
A filing with the Securities and Exchange Commission on Thursday disclosed the financial performance of the social media group, and revealed that Sam Altman, the OpenAI founder and CEO, is its third-largest shareholder, with an 8.7% stake.
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