Feb 14 (Reuters) – Social media platform Reddit Inc plans to go public later this year, likely in the second half, the information reported on Tuesday, citing people familiar with the matter.
Reddit and other companies, including food supplier Instacart, are keeping their IPO filings updated in preparation for their debuts when market conditions improve, the report added.
Reddit did not immediately respond to Reuters’ request for comment.
The IPO market came to a virtual standstill last year as several high-profile listings were shelved as a sell-off in high-growth tech stocks and volatility in capital markets weighed on investor sentiment.
In December 2021, Reddit had confidentially filed with the US Securities and Exchange Commission for an IPO after the company’s message boards became the go-to place for day traders during the meme-stock craze.
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Reporting by Manya Saini in Bengaluru; Edited by Krishna Chandra Eluri and Shinjini Ganguli
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