Business
Reddit files for US IPO
There is an expectation for Reddit to pursue a sale of approximately 10% of its shares in the IPO.
On Thursday, the social media platform Reddit publicly disclosed its paperwork for an initial public offering (IPO) in the United States.
This move marks the IPO filing nearly two decades after Reddit’s inception and represents a significant trial for the platform, which has yet to achieve the commercial success of social media giants like Facebook and Twitter, now referred to as X.
Reddit attained a valuation of $10 billion in a funding round in 2021, but the company’s targeted valuation for its upcoming share sale in the coming weeks remains uncertain.
Reuters earlier reported that there is an expectation for Reddit to pursue a sale of approximately 10% of its shares in the IPO.
Morgan Stanley and Goldman Sachs have been selected as the primary underwriters for Reddit’s IPO, with involvement from over a dozen other banks.
