Reddit, the popular online forum, has officially filed for an IPO on the New York Stock Exchange, a move that is expected to test the U.S. IPO market. The company plans to offer some of its loyal users the opportunity to purchase shares before they are publicly traded.
Founded around 20 years ago in a UVA dorm, Reddit has grown to become one of the most visited websites globally. The platform’s roots can be traced back to the University of Virginia, where co-founders Steve Huffman and Alexis Ohanian met as freshmen. They later pitched the concept that would eventually become Reddit at the Y Combinator startup incubator.
After launching in 2005, Reddit was later sold to Condé Nast for approximately $10 million. Today, Huffman serves as Reddit’s CEO in San Francisco, while Ohanian, who resigned from Reddit’s board in 2020, now resides near Miami with his family.
