Social media company Reddit is far from profitability but plans to finally go public later this year – likely in the second half of the year, people familiar with the matter said.
Reddit and other companies, including Instacart, are keeping their IPO filings updated and preparing for potential debuts when market conditions improve. But other IPO contenders — including software company ServiceTitan, e-commerce startup StockX and data security firm Cohesity — have stopped updating their filings, people familiar with the matter said, and have put their plans on hold for the time being. Payments giant Stripe, which last month said it would either go public or privately raise funds within a year, is taking the latter route.
All of these steps provide clues to answering important questions hanging over the tech industry: When will the frigid IPO market start to thaw? And which big names will be among the first to take the plunge? (See The Information’s Tech IPO Tracker here.)
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