• 24/04/2024 21:15

Social network Reddit plans to hold an IPO in March

The social network Reddit is going to list on the stock market in March. This is reported by Reuters with a link to sources. The company has been studying the possibility of entering an IPO for more than three years.

The social network Reddit plans to hold an IPO in March

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This will be the first IPO of a large company engaged in social networks, since Pinterest in 2019. Reddit, which confidentially filed for an IPO in December 2021, plans to go public in late February. Sources added that the company, which was valued at about $10 billion in a 2021 funding round, is seeking sell about 10% of its shares during the IPO.

As the publication writes, the decision on how to evaluate the IPO will be made closer to the time of listing. Sources also warned that Reddit's plans for an IPO may be postponed, as has happened in the past.

Recall that Reddit is very popular among traders and investors, who have repeatedly created an artificial hype on the social network to increase asset prices.< /p>

In 2023, Reddit is expected to receive just over $800 million in advertising revenue, up 20% from the previous year.

minfin.com.ua

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