Reddit Inc, social media platform, is looking to go public later this year, likely in the second half, the Information reported on Tuesday, citing people familiar with the matter.
According to the report, Reddit and other businesses, such as supermarket delivery service Instacart, are keeping their initial public offering documentation current in anticipation of their debuts when market circumstances improve.
Reddit did not immediately respond to request for comment on the matter as per the report.
Reddit IPO
Last year, the IPO market had virtually stopped, with several high-profile listings put on hold as a selloff in high-growth tech stocks and market turbulence dampened investor optimism.
Reddit's message boards were the go-to place for day traders during the meme stock mania, and the firm secretly filed for an initial public offering with the US securities regulator in December 2021.
