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Reddit could go public in 2 years to boost parent company

Reddit, the online discussion platform that has weathered a few storms, says it could be looking at an initial public offering in two years that could give a big boost to its beleaguered parent company, Advance Publications.

Reddit CEO Steve Huffman dropped the news at a conference on Monday, according to Variety.

“It’s highly probable it could have an IPO in a couple of years if it keeps on the same trajectory,” Steven Newhouse, head of Advance.net at Advance Publications, told Media Ink. Advance spun off Reddit but remains majority owner.

The company that bills itself as the “front page of the internet” was founded by Huffman and Alexis Ohanian while still in college.

In 2006, they sold it to Advance, parent of several newspapers and Condé Nast, for $10 million to $20 million.

Last year, it was given a valuation of $1.8 billion after a new $200 million investment round that included Andreessen Horowitz, SV Angel’s Ron Conway, Sequoia Capital, Coatue Management, Vy Capital, Fidelity and Y Combinator President Sam Altman as an individual.

Huffman left after the original 2006 sale but returned in 2015 as CEO.


NYC post

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