Social media platform Reddit Inc. is looking to go public later this year, possibly in the second half of the year, The Information reported yesterday, citing sources.
The report also said Reddit and other companies, including grocery delivery company Instacart, are updating their initial public offering (IPO) filings in preparation for an IPO when market conditions improve.
The IPO market nearly stalled last year as a sell-off in high-growth tech stocks and volatile capital markets left investors depressed and several high-profile public companies were frozen.
Reddit had secretly filed for an initial public offering with U.S. securities regulators in December 2021, before which it had become a key platform for many retail investors to exchange Netflix stocks.
