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Reddit taps Morgan Stanley, Goldman Sachs for IPO - source

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:Social media platform Reddit Inc, whose message boards became central to meme stock trading frenzy in 2021, is tapping Wall Street banks Morgan Stanley and Goldman Sachs Group for its initial public offering, a source familiar with the matter told Reuters on Friday.Reddit had confidentially filed for an IPO

:Social media platform Reddit Inc, whose message boards became central to meme stock trading frenzy in 2021, is tapping Wall Street banks Morgan Stanley and Goldman Sachs Group for its initial public offering, a source familiar with the matter told Reuters on Friday.

A second source familiar with the matter said JPMorgan Chase is also one of the top underwriters on the deal. Reddit, which was founded in 2005 by Steve Huffman and Alexis Ohanian, has more than 50 million daily active users and over 100,000 communities.

 

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