Reddit was founded in 2005 by Steve Huffman, Alexis Ohanian, and Aaron Swartz. In February 2023, news outlets reported that the company was pursuing plans to go public in the second half of the year. Reddit has kept its IPO paperwork up to date in anticipation of an eventual offering. While company representatives have remained quiet about the possibility, "people familiar with the matter" have contributed to reports.
Reddit is a social media platform with a focus on news aggregation, web content ratings, and discussion. The company has raised over $550 million in Venture Capital funding from investors including Plus Capital, Quiet Capital, Reshape Holdings, Tencent, Bracket Capital, Craft Ventures, Fidelity, Upshift Capital, Andreessen Horowitz, Sequoia Capital, and Y Ventures. It has been widely reported that Reddit last raised $300 million in February 2019 at a post-money valuation of $3 billion.
These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.