The third day of the Web Summit in Altice Arena in Lisbon, Portugal, saw a speech by Steve Huffman, the CEO of Reddit.
On Wednesday it was announced that it has confidentially submitted a draft registration statement to the SEC.
The filing was not made public. The company did not say how many shares would be offered or the price range.
Although it was created in 2005, it has taken a unique road to go public.
In 2006 Conde Nast Publications acquired the site. The publication company made the social media services an independent subsidiary in 2011. Since then, it has raised funding from venture capital firms.
The company said it had raised $700 million in a round in August of 2021.
The company said that it had reached $100 million in advertising revenue during the second quarter of 2021, up 192% from a year prior.
