Reddit is preparing for an IPO

Reddit is looking for investment advisors and lawyers to prepare for an IPO in New York, Reuters reported , citing two people familiar with the company's plans.

The company received a $10 billion valuation in its latest funding round. Reddit hopes to have a $15 billion valuation by the time of its IPO early next year, according to one source.

The history of the forum's influence on the stock market has become one of the loudest in the past year. At the beginning of the year, Reddit users declared war on Wall Street tycoons, dispersing the stocks of companies that hedge funds were betting on. In February, investors on Reddit pushed silver prices to multi-month highs.

However, the IPO could be followed by the end of the "sofa investor" phenomenon, as going public would lead to scrutiny by US regulators.

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We talked about the story of the “battle for GameStop”, when an army of investors from Reddit raised the capitalization of a dying company to $7 billion and forced large Wall Street hedge funds to fix losses on shorts, we told here . You can read about where private investors got easy money for hype assets from here .