PYMNTS.com January 18, 2024
Reddit is reportedly ready to go public via an initial public offering (IPO).
The social media platform aims to go public in March after more than three years of planning, Reuters reported Thursday (Jan. 18), citing sources familiar with the matter.
The report noted that the IPO would make Reddit the first social media company to go public since Pinterest listed in 2019, and would come as Reddit faces heavy competition for ad revenue from platforms like Facebook and TikTok.
The sources said Reddit plans to make a public filing in late February, and begin its investor roadshow in early March before completing its IPO later that month. According to the sources, Reddit — valued at $10 billion following a...
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