Reddit is once again dipping its toes into the idea of an initial public offering (IPO)
Reddit In a recent twist, social media titan According to a fresh report from Bloomberg on Monday, discussions with potential investors are underway, hinting at a potential IPO as early as the first quarter of the upcoming year for the San Francisco-based company founded in 2005 by Steve Huffman, Aaron Swartz, and Alexis Ohanian.
This renewed interest in going public follows a series of strategic moves by Reddit. Back in December 2021, the platform discreetly submitted a draft registration statement to the Securities and Exchange Commission (SEC) in a bid to make its debut on the stock market. Despite these aspirations, the plans did not materialize. Notably, this decision came on the heels of Reddit securing a substantial $410 million financing round, led by Fidelity, elevating its valuation to $10 billion. The original plan was to conclude this round, designated as Series F, at an impressive $700 million.
Fast forward to January 2022, Reddit took another step forward by enlisting financial heavyweights Morgan Stanley and Goldman Sachs to guide its IPO journey. Reddit during this phase, the company explored a potential valuation of up to $15 billion. However, specific details about the valuation for the forthcoming IPO next year remain undisclosed.
In response to inquiries about these recent developments, a Reddit spokesperson informed, highlighting the company’s current adherence to a quiet period, which limits its ability to provide commentary on the unfolding situation.
Crucially, this updated information builds upon our previous publication and now integrates a response directly from Reddit.
