Reddit won’t disclose proposed terms for the IPO, including its valuation in a listing, until a later filing. The company has been advised to consider a valuation of at least US$5 billion ($6.71 billion) in an IPO and could begin marketing the shares as soon as March, Bloomberg News has reported.
Reddit Inc. filed for an initial public offering, revealing the social media platform’s shrinking losses and helping to propel a still-tenuous resurgence in US listings.
The San Francisco-based company, in what is set to be one of the biggest listings of the year, filed Thursday with the US Securities and Exchange Commission to move ahead with an IPO, more than two years after first submitting its plan confidentially.
