Reddit seeks to hire advisers for US IPO

Reddit was valued at $10 billion in a private fundraising round last month. By the time the IPO takes place early next year, Reddit is hoping it will be valued at more than $15 billion, one of the sources said.

NEW YORK: Reddit Inc, the operator of online message boards that became the go-to destination for day traders chasing this year's frenzy for so-called 'meme' stocks, is seeking to hire investment bankers and lawyers for an initial public offering (IPO) in New York, two people familiar with the matter said on Thursday.

Reddit was valued at $10 billion in a private fundraising round last month. By the time the IPO takes place early next year, Reddit is hoping it will be valued at more than $15 billion, one of the sources said.