Reddit is about to go IPO, and the market expects its valuation to exceed $15 billion. This news has caused an uproar in the field of technology and finance. As one of the world's largest social news aggregation websites, Reddit's IPO is bound to attract attention. Even more concerning is Reddit’s plan to support cryptocurrency functionality, a move that will further propel its valuation soaring. Let’s dive into Reddit’s upcoming new chapter.

Reddit, as a content platform that brings together users from all over the world, has always attracted much attention. What makes it unique is that users can post content anonymously, forming a variety of interest communities. With the rise of cryptocurrency, Reddit has also begun to actively explore the integration of cryptocurrency functions. This move will not only provide users with more diversified communication methods, but will also bring new business opportunities to Reddit.

Reddit’s cryptocurrency feature support will be an important driver for its future development. As the cryptocurrency market continues to expand, more and more users are beginning to pay attention to and invest in cryptocurrencies. Reddit's ability to integrate cryptocurrency functions will attract more users to join the platform, increase user stickiness and improve profitability. This also adds more highlights and appeal to Reddit’s IPO, and investors are full of expectations for its future development.

Reddit's IPO valuation is expected to exceed $15 billion, a figure that is truly jaw-dropping. However, considering Reddit's steady development in user scale, content quality and business model, such a valuation is also reasonable. The support of cryptocurrency functions has provided a strong growth impetus for Reddit's valuation, and the market is full of confidence in its future potential. How Reddit will demonstrate its strength in the IPO has become the focus of the industry.

As Reddit is a platform that covers a variety of topics and areas of interest, the introduction of cryptocurrency functionality will bring a new experience to users. Not only can you learn about the latest cryptocurrency information on Reddit, you can also conduct cryptocurrency transactions, participate in project investments, etc. This will further enrich Reddit's content ecosystem, attract more users to participate, and promote the continued development of the platform.

To sum up, Reddit’s IPO and cryptocurrency function support will bring it new development opportunities. As the cryptocurrency market continues to heat up, Reddit's future looks bright. Investors, users, and industry observers are paying close attention to Reddit's every move, looking forward to its even greater success in the future. Reddit is about to open a new chapter, let us wait and see to witness the continuation of this legend.

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Note: The above exchange logo is the official website registration link, and the text is the APP download link.

Reddit, known as the largest gathering center for netizens in the United States, posted on its official Twitter at around 10:30 a.m. on the 16th, confirming that it had submitted an S-1 draft to the U.S. Securities and Exchange Commission (SEC) to apply for an initial public offering. (IPO).

Reddit was valued at approximately US$10 billion when it conducted a new round of private equity in August this year. Its largest investors include Fidelity Investments and Andreessen
Horowitz, Sequoia Capital and Tencent Holdings. According to a report by Reuters in September, people familiar with the matter said that Reddit is expected to IPO in early 2022, and is expected to be worth more than 15 billion US dollars by then; Reddit stated in the statement that it was unable to disclose more information due to the silence period and related regulatory reasons. .

It's unclear how many shares are expected to be sold or the IPO's price range.

Reddit plans to support cryptocurrency functionality

Reddit is an entertainment, social and news platform for users to discuss and post opinions on website forums. The forum covers various topic subreddits (also known as subreddits). According to settlement data in June 2021, Reddit ranks as the 14th most visited website in the world, with total monthly visits exceeding 2.3 billion.

According to previous reports from the currency circle, Reddit has launched a waiting list for a community points token reward program and a test of website feature expansion. Allow sub-sectors to apply to create their own tokens, alongside existing Karma
Like Points, users can earn tokens by publishing or uploading valuable content, or voluntarily helping to give back to the community.

Reddit stated that the points token is still in the testing phase, but users are strongly advised to exercise caution and not to sell, exchange, or trade points, as this is against the site's rules. And added: Points are still on the test network. Such behavior is very dangerous. Points may be lost or unable to be migrated to the Ethereum mainnet.

In fact, as early as December 2019, the platform first got involved in cryptocurrency rewards. At that time, it only launched Ethereum tokens called Donuts as rewards in the subreddit r/Ethtrader; and by May 2020, Reddit and Offchain
Labs cooperated with the Arbitrum network to move the community points tokens of two subreddits, IEr/cryptocurrency and r/FortNiteBR, with a total of about 80,000 users, to Arbitrum's Rinkeby test network, and each have their own tokens, Moons. and Bricks.

Special memberships and weighted voting functions can be purchased

The official website states that Reddit users can register for the waitlist, and when the beta version is opened, the community feature will be added to their subreddits.

In addition, each subsection participating in the program can open a special membership, which users can purchase through community point tokens, and this qualification will unlock the hidden badges, GIFs, animations, emoticons and other functions of the section; in addition In addition, a weighted voting function will be added so that users with more community points in the community (who contribute more in this version) can have a wider say.

"Community points will be a standard for measuring the reputation of a community. In the future, this feature will be displayed next to the user name in the subreddit, allowing the community's most contributors to stand out from the crowd."

These tokens will be recorded in personal on-chain vaults for users to view, send and redeem their community points in the app at any time. Since the data is all on the blockchain, users can show their reputation records through the network at any time.