According to individuals familiar with the situation, the social media site Reddit Inc. is planning to go public later this year, most likely in the second half.
According to the article, Reddit and other companies, including food delivery business Instacart, are keeping their initial public offering paperwork up to date in preparation for their debuts when market circumstances improve.
Reddit did not immediately reply to Reuters’ request for comment.
The IPO market ground to a halt last year, with many high-profile listings put on hold as a selloff in high-growth tech firms and financial market volatility soured investor sentiment.
After the company’s message boards became the go-to destination for day traders during the meme stock frenzy, Reddit filed for an initial public offering with the US Securities and Exchange Commission in December 2021.
