Reddit files to take the company public

The image is by Alex Castro.

The company filed a confidential S-1 with the SEC to begin the process of taking the company public.

The number of shares to be offered, and the price range for the proposed offering have not been determined yet, the company said, adding that it was in a quiet period and could not provide further details for regulatory reasons.

The company has been rumored to be considering an IPO for some time, and in August announced it had raised a $700 million round of funding at a valuation of more than $10 billion.

In August, the company said it had made $100 million in ad revenue for the second quarter of 2021, a 200 percent increase from the previous year.

The company said earlier this year that it would double its staff by the end of 2021.

As of August, the site had 52 million daily users and more than 100,000 active sub-reddits. In August, Huffman told the New York Times that he was still planning on going public but didn't have a firm timetable.