Reddit Prepares for Initial Public Offering Slated for March
Summary:
Reddit, the popular social media site, has plans to launch its IPO in March of this year. The San Francisco-based company intends to sell about 10% of its shares with the valuation disclosed around listing time. Following a confidential filing for its IPO in December 2021, a public filing is planned for late February. However, the IPO timeline may see delays, as has happened in the past. Updates on the matter will be provided as they emerge.
Reportedly, the renowned social media platform Reddit is planning to introduce its initial public offering (IPO) in March of this current year, as per a report detailed by Reuters. The company, based in San Francisco, is projected to put forth approximately 10% of its shares for the IPO, the valuation of which would be disclosed around the time of listing. Last year, after a financing round, Reddit was estimated to be worth $10 billion. As reported by Reuters, it's believed that during December 2021, Reddit filed confidentially for its IPO and has plans to publicly file by the end of February, leading to the launch due in early March. However, the report by Reuters warns that there might be a delay in the IPO timeline, as has happened in the past. This story is still unraveling more details, updates will be given as they unfold.
Published At
1/18/2024 3:32:26 PM
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