Reddit To Go Public In March

London, UK - July 31, 2018: The buttons of the app Reddit, surrounded by Pinterest, Whatsapp, and other apps on the screen of an iPhone.

After years of speculation, Reddit is set to launch its initial public offering (IPO) in March according to people familiar with the matter.

According to a report in Reuters, Reddit confidentially filed for its IPO in December 2021 and is planning to make its public filing in late February, launch its roadshow in March and complete the IPO by the end of that month.

The company was valued at around $US10 billion ($AU$15 billion) in a 2021 funding round. This time around, it is seeking to sell off 10 per cent of its shares in the IPO, according to the sources. It will decide on what IPO valuation it will pursue closer to the time of the listing.

However, the sources that Reuters spoke to said that Reddit’s IPO plans could be deferred as has happened in the past.

A Reddit spokesperson declined to comment on the story. Reddit generates most of its revenue through advertising and also offers an ad-free subscription service for $US5.99 per month ($AU9 per month). It has yet to turn a profit.

In the past, the company has attributed its losses to investing in the platform and its users engaging less with advertising on its site than other social media.




Please login with linkedin to comment

reddit

Latest News

“Cornerstones Of Community Strength”: CARE Spotlights Vital Role Of Women To Overcome Poverty & Recover From Conflict & Disaster
  • Campaigns

“Cornerstones Of Community Strength”: CARE Spotlights Vital Role Of Women To Overcome Poverty & Recover From Conflict & Disaster

This International Women’s Day, CARE Australia will celebrate women as global change-makers amid increasingly frequent conflicts and climate-related crises, with Ashleigh Streeter-Jones, Natalie Kyriacou OAM, and Justine Cullen spearheading the initiative as ambassadors. Lead image: Ashleigh Streeter-Jones In its third consecutive year, the ambassadors will champion CARE Australia’s Her Circle initiative, which recognises that: when […]

Avid Collective Nabs Niki Jones From Junkee Media As New Head Of Enablement & Operations
  • Media

Avid Collective Nabs Niki Jones From Junkee Media As New Head Of Enablement & Operations

Avid Collective has officially announced the appointment of former Scout Publishing and Junkee Media executive Niki Jones (lead image) as its new head of enablement operations. In the newly created role, Jones will be responsible for overseeing operational activities across various arms of business with a focus on partner engagement. “Niki’s appointment comes at an […]