Following years of preparations, a report says shares could be trading by March
Reddit $RDDT is a place on the internet where people like to yell. Literally: There’s a 30,000-member-strong section of the site dedicated to “heavy metal screaming, extreme vocals, and death growling techniques” called r/screaming. But back in December, the platform did something more quietly—it confidentially filed for an initial public offering.
A confidential IPO filing lets companies put out feelers on how the market might perceive them without the full commitment of actively pitching themselves to the public. But now, according to Reuters, Reddit is ready to raise its offering talks above a whisper. The news service says a debut could come by March. Reddit declined to comment to Quartz.
The home of Wall Street Bets and its legion of meme stock hawkers has been trying to clean itself up and look spiffy for years now, having brought on Snap $SNAP’s public market-shepherding CFO in March 2021 and having hired advisors in September 2021.
Not all of those changes have been popular, whether it’s swashbuckling users not ready to play nice or fans of third-party Reddit apps getting cut off by data fees. But all those complaints will likely sound a lot quieter when they’re competing with the din of stock market dollars rushing in to (hopefully) reify a $10 billion valuation.
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