Reddit Files for IPO that Hosts Wallstreet Bets Users

Reddit Inc. the social media platform filed a confidentially filed for an initial public offering, according to Bloomberg.

The company in a statement said on Wednesday that the number of shares and proposed price for an IPO has not been set yet. The listing would occur after the U.S. Securities and Exchange Commission completes reviewal process and have met market and other conditions.

However, the company did not disclose the IPO valuation.

Reddit after its inception in 2005 has become of the most influential social media company in the world. This year February the company said, it has more than 50 million daily users with more than 100,000 active groups.