stockcam/iStock Unpublished via Getty Images
Reddit (REDDIT) is considering a valuation of at least $5 billion, according to a Bloomberg report citing people familiar with the matter.
The company is seeking a valuation in the high-single digit billions in a debut that could come as soon as possible. in March, Bloomberg reported.
Much will depend on the new emissions market and the timing of the agreement.
Reddit was valued at about $10 billion in a funding round in 2021 and intends to sell about 10% of its shares in the IPO, according to a Reuters report.
In March 2022, the social media company had selected banks to help it prepare for an IPO, but was sidelined by the Federal Reserve's rate hikes and the sense of risk aversion that followed.
Reddit is a competitor with a variety of websites and platforms for social media attention such as Tumblr, Quora, Instagram, and Facebook, owned by Meta Platforms (META), TikTok, owned by ByteDance (BDNCE), and X, formerly known like Twitter.
The company intends to make its public filing in late February, stage its roadshow in early March and complete the initial public offering by the end of March, Reuters said.
