Reddit, the popular social news and discussion website, is getting ready to go public, according to Axios, citing CEO Steve Huffman.
While it’s not clear how soon the company will issue an initial public offering (IPO), the statement from the tech leader at a Monday event in San Francisco shows how serious it is in becoming a really powerful player and conglomerate in a competitive market.
Reddit raised $200 million in an investment round earlier in the year, bringing its value to $1.8 billion.
After Huffman was asked which entity Reddit should be worried about the most competitively — Google, Facebook, or more conventional forms of media — Huffman said none; his “rivals” according to Axios, are free time and office productivity.
Hate speech is allowed on the site, but he has also considered implementing some kind of hate speech policy.
“It’s important to let these things play out,” said Huffman. “When you outlaw it, it turns people into martyrs.”
Reddit banned an alt-right community page earlier in the year.
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