According to the Financial Times, Reddit is considering going public on the NYSE under the symbol RDDT by the end of March.
A Revealed Potential Valuation
The company, which filed its S-1 form last month, is aiming for a valuation of around $6.5 billion, offering its shares between $31 and $34. This valuation appears more modest compared to Bloomberg’s 2022 expectations, which mentioned a potential of $15 billion.
Cryptocurrencies and Blockchain at the Core of Reddit’s Strategy
Our investments in cryptocurrencies for treasury purposes are limited to Bitcoin, Ethereum, and any other cryptocurrency that the SEC, CFTC, or senior staff members of these regulatory agencies may identify as unlikely to be securities.
In its S-1 filing, Reddit has disclosed holding cryptocurrencies such as ether (ETH), bitcoin (BTC), and Polygon’s native token (MATIC), highlighting a deep interest in blockchain and digital assets.
These investments, intended for treasury purposes, reflect the company’s belief in the significant potential of crypto and blockchain, despite a warning about the potential volatility of these assets and uncertainty about their long-term adoption.
Reddit also experimented with Ethereum-based Community Points before discontinuing the program last year, citing uncertain regulatory landscape and scalability limitations.
