Reddit: Social media platform files to go public

Social media platform Reddit has announced that it has started the process to sell its shares on the stock market.

In a confidential filing, it did not reveal how many shares it planned to sell or the price of the shares.

In August, the company said it had raised $700m (£528m) in new funding, valuing it at more than $10bn.

Reddit was at the centre of the so-called "meme stock" phenomenon earlier this year.

"The initial public offering is expected to occur after the SEC completes its review process, subject to market and other conditions," Reddit said in a filing with the US Securities and Exchange Commission.