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Reddit may hold an IPO by 2020

on November 13, 2017, 5:19pm

You may soon be able to own stock in Reddit, as the wildly popular aggregation and discussion board website may go public by 2020. CEO and co-founder Steve Huffman revealed the news during his keynote conversation at the Internet Association’s Virtuous Circle Summit on Monday afternoon (via Variety).

“The time frame is pretty far out,” Huffman said. Still, he called taking the company public “the only responsible choice” in order to give due remuneration to employees and investors.

Huffman and his co-founder, Alexis Ohanian, started Reddit in 2005, selling it to Condé Nast just one year later. In 2011, it became a direct subsidiary of Advance Publications, the media giant’s parent company, and has been operating independently since 2012. While Huffman said the Condé Nast deal saved the “fairly dysfunctional” company, he added that it became vital to function separately in order to afford employees equity.

Should the company offer an IPO in the next three years, that equity could prove lucrative. Reddit sees about 234 million unique users a month, putting it at the #4 most visited site in the US and #8 in the world.