The company announced Wednesday that it would go public in an offering that would give it a valuation of more than $100 billion.
The valuation will help the company raise $1 billion more in financing and increase its market capitalization to more than four times that of Google.
The announcement came as the company said it was hiring another 200 people and was working on expanding its business.
Reddit said it plans to use the money it raises to expand its community, expand its services, and improve its product and platform.
It said it will also invest $500 million in its new headquarters in San Francisco.
Reddit has been a boon for the tech industry as a place for discussion of a wide range of topics, including politics, entertainment, fashion, and technology.
Its most popular subreddit, r/technology, has nearly 5 million subscribers and posts more than 700 million unique visitors a month.
It has also helped foster a culture of open discussion.
The company’s stock has been rising in recent months, with investors hoping that the IPO would give the company a boost in the long run.
Reddit is expected to issue $50 million in stock to shareholders on Friday.