Reddit, the "base camp of U.S. stock retail investors", filed an IPO application with a valuation of more than $15 billion

On Wednesday, Eastern time, Reddit, one of the world's most influential social platforms and a social platform known as the "American version of Tieba ", said that it has secretly submitted a draft registration statement to the US Securities and Exchange Commission to prepare for an IPO.

Reddit did not make the document public, nor did it specify how many shares would be issued and the price range for the proposed offering. However, according to reports in September, sources revealed that Reddit had hoped that its IPO valuation would exceed $15 billion.

Founded in 2005, Reddit was acquired by Conde Nast Publications in 2006 and spun off as an independent subsidiary in 2011. This was followed by a series of financings from venture capital firms.

The most recent round of funding was in August, when the company raised $700 million at a valuation of more than $10 billion. Most of the company's business revenue comes from advertising. At the time of its fundraising in August, the company revealed that its advertising revenue had reached $100 million in the second quarter of 2021, up 192% year-over-year.

The Reddit forum mainly takes the form of discussion groups, similar to the domestic Tianya and Tieba. Over the years, although the number of users has grown year by year, its popularity has lagged behind other mainstream social platforms such as Facebook and Twitter.

At the beginning of the year, however, the number of Reddit users suddenly exploded. This is due to the active U.S. retail investors on the Reddit forum to hype MEE and other meme stocks, making the forum famous and being regarded as the "U.S. stock retail investor base camp", and Reddit's global application downloads have also soared, and the number of daily active users has also increased significantly. The company also seized the opportunity and soon announced plans to prepare for an IPO, preparing to raise capital for further international expansion.

According to reddit's official data, Reddit's daily active users reached 52 million last year, but since then there has been no public release of this year's daily active data.

Reddit's biggest investors include Fidelity Investments, Anderson Horowitz Fund, Sequoia Capital and Tencent.