Reuters first to report Reddit seeks to hire advisers for U.S. IPO

Reuters was first to report that Reddit, the operator of online message boards that became the go-to destination for day traders chasing this year’s frenzy for so-called meme stocks, is seeking to hire investment bankers and lawyers for an initial public offering (IPO) in New York. Reddit was valued at $10 billion in a private fundraising round last month. By the time the IPO takes place early next year, Reddit hopes it will be valued at more than $15 billion.