Reddit faces patent infringement claims from Nokia ahead of IPO

News Snapshot:

What just happened? Reddit has received some unwelcome news ahead of its initial public offering (IPO) this week. Nokia Technologies, the famous phone company's licensing and networking equipment business, has accused the social media platform of infringing on some of its patents. Nokia Technologies sent Reddit a letter on Monday informing the company of the claim, according to an amended SEC filing made on Tuesday. "As we face increasing competition and become increasingly high profile, the possibility of receiving more intellectual property claims against us grows," Reddit said in the filing. Bloomberg notes that this isn't Nokia's first patent dispute....