Reddit has restarted its public offering process, which it has been struggling with for years. The company, which is in talks with potential investors, seems likely to enter the stock market in the first quarter of next year.
Reddit, one of the largest forum sites in the world, occasionally IPO subject comes to the fore. In fact, some documents were submitted to the United States Securities and Exchange Commission (SEC) in 2021. presented. At that time, it was thought that the public offering process would be completed, but did not happen.
The company will partner with investment banks such as Morgan Stanley and Goldman Sachs in 2022. contacted. It was said that these attempts were made to finalize the public offering process. However, strangely enough, Reddit has never been able to go public until today.
Reddit has now started preparations for an IPO again
Bloomberg announced that Reddit has once again initiated an IPO attempt. According to the news based on sources familiar with the subject, this time the forum platform with potential investors started meeting. According to sources Reddit, in the first quarter of next year will be offered to the public. TechCrunch reached out to Reddit to discuss the issue, but company officials made open-ended statements.
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It’s unclear whether Reddit will actually go public next year. On the other hand; At what billion-dollar valuation the company will enter the stock market? Unknown. However, studies conducted last year estimated a valuation of up to 15 billion dollars. The official application to the SEC and the decisions to be taken by the US authorities will affect Reddit’s public offering process. to become clear will provide.
Source :
https://www.bloomberg.com/news/articles/2023-11-27/reddit-leads-class-of-2024-us-ipo-candidates-testing-the-water?sref=gni836kR#xj4y7vzkg