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Reddit is prepare to establish its initial public offering ( IPO ) in March , harmonise to a new report fromReuters . The report notes that the move comes more than three yr after the San Francisco - based societal medium platform first get down eye an IPO . Reddit is plan to make its public filing in late February and complete the IPO by the terminal of March .
The company is looking to trade around 10 % of its shares in the initial public offering , and will decide on what IPO rating to engage nearer to the metre of the itemization . However , Reuters sources cautioned that Reddit ’s IPO project could potentially be pushed back , which has happened in the yesteryear .
Reddit decline to comment on the matter .
The news comes nearly two calendar month afterBloombergreportedthat Reddit was holding talk with possible investors for an initial public offering .
Reddit , which was plant in 2005,confidentially submitted a draftregistration argument with the Securities and Exchange Commission to go public in December 2021 , but those program never materialized . The move exact station just month after Reddit had raised $ 410 million in a Series F financial support round result by Fidelity , esteem it at $ 10 billion . At the time , it had plans to close out the roundat $ 700 million .
In January 2022 , it was reported that Reddit wasworking with Morgan Stanley and Goldman Sachsto go public and was considering a valuation of as much as $ 15 billion .
The company has yet to plough a earnings , Reddit chief executive officer and co - founder Steve Huffman revealed last June . Reddit has held off on launching an initial public offering until it came nigher to profitability . Its IPO plans have also been delayed due to uncertainty around the IPO market place over the last two twelvemonth , Reuters note .
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The Informationreporteda few calendar week ago that Reddit expected to finish 2023 with ad revenue up more than 20 % to slightly over $ 800 million .
Reddit might once again be flirting with an IPO
