Reddit jumps on IPO bandwagon with confidential filing

FILE PHOTO: Reddit app is seen on a smartphone in this illustration taken, July 13, 2021. REUTERS/Dado Ruvic/Illustration

(Reuters) -Reddit Inc, whose message boards became the go-to destination for day traders during this year's meme stock frenzy, said on Wednesday it had confidentially filed for an initial public offering with U.S. securities regulators.

Reuters first reported on Reddit's IPO plans in September. The social media company is aiming for a valuation of over $15 billion at the time of its flotation, sources have previously told Reuters.