Reddit is preparing to launch its initial public offering (IPO) in March, according to a new report from Reuters. The report notes that the move comes more than three years after the San Francisco-based social media platform first began eyeing an IPO. Reddit is planning to make its public filing in late February and complete the IPO by the end of March.
The company is looking to sell around 10% of its shares in the IPO, and will decide on what IPO valuation to pursue closer to the time of the listing. However, Reuters sources cautioned that Reddit’s IPO plans could potentially be pushed back, which has happened in the past.
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