Reddit Plans IPO in March 2024, Seeks to Sell 10% of Shares
Social media platform Reddit has drawn up plans to launch its initial public offering in March 2024. Reddit confidentially filed for its IPO in December 2021 and is now planning its public filing in late February, with a roadshow starting in early March and completing the IPO by the end of March. The company is seeking to sell about 10% of its shares and will decide on valuation closer to the listing date. Its valuation in 2021 was around $10 billion. The platform generates revenue from advertising and premium subscriptions, though it has yet to turn a profit. Reddit held back from going public until nearing profitability due to market volatility delaying IPOs in recent years.
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00:00 It's Benzinga and here's what's on the block.
00:02 Social media platform Reddit has drawn up plans to launch its initial public offering in March
00:07 of 2024. Reddit confidentially filed for its IPO in December of 2021 and is now planning its public
00:12 filing in late February with a roadshow starting in early March and completing the IPO by the end
00:17 of the month. The company is seeking to sell about 10% of its shares and will decide on valuation
00:21 closer to the listing date. Its valuation in 2021 was around $10 billion and the platform generates
00:27 revenue from advertising and premium subscriptions though it has yet to turn a profit. For all things
00:31 money visit Benzinga.com