Reddit Plans March IPO Launch

Social Media Giant Aims to Sell 10% of Shares in First Major Social Media IPO Since 2019

Reddit is planning to launch its initial public offering (IPO) in March, according to multiple sources. This would be the first IPO of a major social media company since Pinterest's debut in 2019.
The San Francisco-based company, valued at about $10 billion in a funding round in 2021, is reportedly seeking to sell about 10% of its shares in the IPO.
Reddit filed confidentially for its IPO in December 2021, but plans were delayed until the company was closer to returning a profit.
Reddit primarily generates its revenue through advertising and also offers premium access for $5.99 per month. However, the company has yet to turn a profit.
Reddit's IPO plans could potentially be pushed back, as has happened in the past.