Reddit had confidentially filed for an IPO in December and is aiming for a valuation of over US$15 billion at the time of its flotation. It was valued at US$10 billion in a private fundraising round led by Fidelity Management in August.
Goldman Sachs and Reddit did not immediately respond to Reuters requests for comment. Morgan Stanley and JPMorgan Chase declined to comment. Its message boards, especially its WallStreetBets thread, were at the heart of a pitched battle between small-time traders and big hedge funds and had helped drive big gains in highly shorted shares of companies such as GameStop and AMC , while popularizing the term meme stocks.
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