Social media giant Reddit is reportedly looking to launch its own initial public offering (IPO) in March later this year, according to a report published in Reuters.
The San Francisco-based firm will reportedly sell about 10% of its shares in the IPO and its valuation will be revealed around the time of listing. The social media giant was valued at $10 billion after its funding round in 2021.
According to the sources cited by Reuters, Reddit confidentially filed for its IPO in December 2021 and plans to make its public filing in late February, followed by a launch in early March.
Reuters in its report cautioned that the timeline of the IPO might get pushed back as happened earlier, citing familiar sources.
This is a developing story, and further information will be added as it becomes available.
