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Reddit (REDDIT) is considering a valuation of at least $5B, according to a Bloomberg report that cites people familiar with the matter.
The company is looking for a valuation of mid-single-digit billions in a debut that could come as soon as March, Bloomberg reported.
Much will depend on the new-issues market and the timing of the deal.
Reddit was valued at about $10B in a funding round in 2021, and aims 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 risk-off market sentiment 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), ByteDance (BDNCE) -owned TikTok, and X, formerly known as Twitter.
The company intends to make its public filing in late February, introduce its roadshow in early March, and complete the IPO by the end of March, Reuters said.
