Reddit to pursue March IPO after three years mulling it – reports
The IPO would be the first by a major social media company since Pinterest's launch back in 2019.
Reddit has drawn up detailed plans to complete a long-awaited initial public offering (IPO) by the end of March, according to reports.
Reuters reported that the social media platform, which has been considering an IPO for over three years, is planning to make its public filing in late February.
It will then launch its roadshow in early March before completing the IPO at the end of that month, the report said, citing people familiar with the matter.
The IPO would be the first by a major social media company since Pinterest’s flotation back in 2019.
Reddit was valued at around $10bn at its latest funding round in 2021, and is seeking to sell around 10 per cent of its shares. The sources cautioned that its IPO plans could be delayed.
Reddit, the self-styled ‘front page of the internet’, gained prominence among investors back in 2021 when day traders on its forum sparked a huge rally in shorted stocks such as GameStop and AMC.
Reddit did not immediately respond to a request for comment.
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