Feb 14 (Reuters) – Social media platform Reddit Inc is trying to go public later this yr, seemingly within the second half, the Info reported on Tuesday, citing folks acquainted with the matter.
Reddit and different corporations together with grocery supply agency Instacart are conserving their preliminary public providing paperwork updated, in preparation for his or her debuts when market situations enhance, the report added.
Reddit didn’t instantly reply to Reuters’ request for remark.
The IPO market had come to a digital standstill final yr with a number of high-profile listings on ice as a selloff in high-growth tech shares and volatility within the capital markets soured investor sentiment.
In December 2021, Reddit had confidentially filed for an preliminary public providing with the U.S. securities regulator, after the corporate’s message boards grew to become the go-to vacation spot for day merchants through the meme inventory frenzy.
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Reporting by Manya Saini in Bengaluru; Modifying by Krishna Chandra Eluri and Shinjini Ganguli
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