By Nat Rubio-Licht,
Reddit could make its stock market debut in March, Bloomberg reported. The social media company could seek a valuation as high as $15 billion.
Reddit will reportedly work with Morgan Stanley and Goldman Sachs for its IPO. But sources close to the matter told Bloomberg that the company’s timeline, plans and valuation are not set in stone.
Reddit revealed it had confidentially submitted a a draft registration with the SEC in December. The company scored a valuation of $10 billion in August after raising more than $400 million in funding from Fidelity and others.
Though the social network has long been on the radar of Silicon Valley VCs, Reddit grabbed attention from individual and institutional investors alike after traders on the subreddit r/WallStreetBets led to the rise of meme stocks like AMC and GameStop in early 2021.
Source : https://www.protocol.com/bulletins/reddit-march-ipo
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