Reddit Inc. announced late Wednesday that it has confidentially filed its S-1 paperwork with the U.S. Securities and Exchange Commission to go public in the new year.

The number of shares to be offered in the initial public offering and the price range have not yet been determined. Reddit noted that it’s in a quiet period and for regulatory reasons could not provide any further information, such as a planned timeline for the IPO. The float will be subjected to SEC approval, market reception and other conditions.

The IPO valuation on Reddit is open to speculation, but the company last raised $700 million in venture capital funding on a valuation of $10 billion in August. Presumably, the IPO figure will be somewhere north of that valuation.

In March, Reddit’s likely plans to go public first entered the public sphere when the company hired Drew Vollero as its first chief financial officer. Reddit said at the time that Vollero would focus on building out its finance team across all areas, including tax, treasury, audit, financial planning, sales finance, accounting, procurement and investor relations. It added that Vollero had previously served as Snap Inc.’s first CFO scaling the finance, accounting and audit functions and leading the company through its IPO as a public company.

Founded in 2005 by then University of Virginia students Steve Huffman (pictured, right) and Alexis Ohanian (left), Reddit pitches itself as the “front page of the internet.” The site, an amalgam of social networking and online forums, was acquired by Conde Nast in 2006 before being spun off as a standalone company in 2011 on a $200 million valuation.

Reddit has made various headlines over the years but gained much attention when its r/WallStreetBets subreddit played a key role in stock market chaos involving GameStop Corp. stock during January and February.

The company also reported more than $100 million in revenue for the first time in its second quarter. More recent figures are not available, but as of August Reddit had 52 million daily users, with more than 100,000 active subreddits.

Coming into its IPO, Reddit has raised $1.3 billion in funding, according to Crunchbase. Notable investors include Fidelity, Sequoia Capital, Andreessen Horowitz, Tencent, Vy Capital and SV Angel.

Photo: Reddit