Reddit planning to IPO in March - Reuters
investing.comReddit plans to launch its initial public offering (IPO) in March, according to a report from Reuters on Thursday.
The long-awaited listing, which the company has been eyeing for three years, is expected to move forward after the company confidentially filed for its IPO in December 2021.
Reuters said its sources told them that the social media platform is preparing to make its public filing in late February before launching its roadshow in early March and completing its IPO by the end of March.
The San Francisco-based company was valued at around $10 billion in a 2021 funding round. It is said to be looking to sell approximately 10% of its shares in the IPO and decide on what IPO valuation it will pursue closer to the listing date.
However, Reuters sources warned the IPO plans could be delayed.
If Reddit goes ahead with the March listing, it would represent the first major social media listing since Pinterest in 2019.
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