Subreddit giant wheels out bankers after prior false starts on public listing.
• Reddit restarts stalled IPO engine after prior false starts.
• Despite past stumbles, maturing web giant sees listing moment.
• All eyes on whether third time proves charm for public debut.
Reddit Set to Launch Long-Awaited IPO
Reddit appears poised to take another shot at a public listing after past attempts famously flamed out.
The iconic social media hub is holding fresh talks with investors to test appetite for an initial public offering in 2023, Bloomberg reported on Monday.
Reddit stood up bankers back in early 2022 to prep for a $15 billion IPO before shelving the plans without explanation last winter.
Front Page to Wall Street
But sources say Reddit aims to make its trading debut as soon as Q1 of next year following a newfound momentum boost.
The company just bagged a mega $410 million funding round from leading backer Fidelity last year, putting its last private valuation at $10 billion before more recent growth.
Reddit’s IPO Ready for the Spotlight
Reddit remains tight-lipped amid the apparent IPO relaunch, with a spokesperson citing a “quiet period” when asked to comment. But Wall Street eagerly awaits any details after previous false starts.
Could the third time be the charm for Reddit? Its huge community-focused platform now sits among the 10 most visited websites worldwide following pandemic engagement spikes.
But past transparency issues and toxicity controversies make public investors wary, especially amid recent tech stock carnage.
Aiming to Capitalize on Growing User Base
Regardless, another shot at a blockbuster IPO proves Reddit has completely transformed from the scrappy news aggregator originally started by Steve Huffman, Aaron Swartz and Alexis Ohanian in 2005.
The company looks determined to shed past stumbles and unlock major value as a newly mature, diverse digital hub.
So, all eyes remain fixed on Reddit’s next moves as it looks to transition from one of tech’s most influential private disruptors into full public company mode.
