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Highlights
- Last year, Reddit had reportedly said that its IPO would take place after the Securities and Exchange Commission (SEC) completed its review process.
- In August 2021, some reports had claimed that Reddit raised US$ 410 million in a funding round led by Fidelity Investments.
- If it happens, Reddit IPO would be among one of the largest listings in 2022.
Since the start of this year, the IPO market has weakened as factors like the hike in interest rates and an ongoing war between Russia and Ukraine contributed to increased market volatility.
So far, several companies have delayed or cancelled their IPO plans in hopes of a stable market condition. However, investors are still interested in the public debut plans of some private companies.
On Monday, April 4, potential investors looked for Reddit IPO plans. Last year, it was reported that the social media discussion forum was looking to go public and since then, people have remained hooked on the updates related to Reddit.
When is Reddit going public?
This is probably one of the most searched questions regarding IPOs. It is expected that Reddit could go public in 2022. However, there is no official announcement from the company about its public debut date.
Last year, Reddit had reportedly said that its IPO would take place after the Securities and Exchange Commission (SEC) completed its review process.
However, the San Francisco-based company also said that its public debut would be dependent on market conditions and other macroeconomic factors.
It appears that market conditions are not stable at the moment. Therefore, it would be worth watching if the company came up with an IPO announcement. At the time of drafting, details like the number of shares and price range for the listing were unknown.
All you must know about Reddit
As per the company website, Reddit is an aggregator of social news. In August 2021, some reports had claimed that Reddit raised US$ 410 million in a funding round led by Fidelity Investments.
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The social media platform reportedly achieved a valuation of US$ 10 billion, up from US$ 6 billion in the previous funding round.
Now, the company is expected to value at around US$ 15 billion at the time of offering the common shares to the public.
Bottom line
Reddit shot to fame in 2021 when one of its groups named r/WallStreetBets hit the headlines for seismic short squeezes of the stocks of companies like GameStop and AMC Entertainment.
It is believed that due to discussions on Reddit, stocks of companies with poor fundamentals soared in the middle of an ongoing pandemic and those stocks were called meme stocks.
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Please note, the above content constitutes a very preliminary observation or view based on digital trends and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.
