Reddit Prepares for Public Offering

Reddit

Social media and news platform Reddit Inc. is preparing for an IPO with a valuation of at least 5 billion dollars.

Reddit plans to make an official announcement by the end of March.

Reddit

In private trades for Reddit’s unlisted shares, investors valued the company at less than $5 billion, with potential buyers on Rainmaker Securities’ platform submitting offers valuing the company at between $4.5 billion and $4.8 billion.

A Reddit spokesperson declined to comment on the price valuation and IPO date, and did not comment on the investors’ opinions.

Reddit has drawn up detailed plans to launch its IPO in March, Reuters reported, citing sources familiar with the matter. Two of the sources claim that the company will file for an IPO by the end of February and complete the IPO by the end of March.

These sources added that the San Francisco-based company, which was valued at around $10 billion in a financing round in 2021, aims to sell about 10 percent of its shares in the IPO. According to the information shared, the company will decide what the IPO valuation will be when it is closer to the listing time.

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