Reddit Said To Be Moving Closer To Long-Anticipated IPO
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deadline.comReddit appears to be moving closer to a long-anticipated IPO. Citing sources, the news agency Reuters said the tech company could make the move to go public as soon as March and has been drawing up paperwork toward that end.
Reddit had filed a confidential SEC registration in 2021 as it was contemplating a public stock debut. The San Francisco-based company was valued at $10 billion at that time.
The climate has been challenging lately for IPOs and if Reddit’s proceeds, it will be the first for any social media firm since Pinterest in 2019.
Some market watchers expect a healthier pipeline of IPOs this year, thanks to declining interest rates and more stability in the equity markets.
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