Reddit plans to publicly launch in the second half of 2023

Reddit, the world's largest online discussion platform, plans to go public in the second half of 2023. From news and politics to entertainment and sports, Reddit connects millions of people around the world in meaningful conversations every day. Reddit is a social media platform founded in 2005. Founded in 2005 by Steve Huffman and Alexis Ohanian, Reddit has more than 50 million daily active users and more than 100,000 communities. It is free for users to register and post. Users can share various content such as discussion, image sharing, link sharing and news in forums created according to their interests.

Reddit is known for its forums, which often cover topics such as news, humor, science, technology, pop culture, sports, food and travel. Users can highlight their favorite content by voting, commenting or recovering posts. Reddit has millions of users worldwide and hundreds of thousands of posts are made every day on many different topics. Reddit allows users to build diverse communities by sharing different opinions, experiences and interests.

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Will Reddit be available to the public?

Social media platform Reddit could go public in the second half of the year, The Information reports. According to the report, Reddit is updating its initial public offering paperwork when market conditions improve. The IPO market had virtually ground to a halt as companies faced volatility in capital markets and deteriorating investor sentiment. The social media platform said it had confidentially filed for a proposed initial public offering (IPO) with the US Securities and Exchange Commission in December 2021.

As Reuters previously reported, Reddit was targeting a valuation of more than $15 billion. The company was previously valued at $10 billion in a private fundraising round. The San Francisco-based startup did not disclose the size of its IPO, the price range or when it plans to go public. In December 2022, the company lowered its internal valuation to $10 billion, Information reported.

Who are Reddit's Investors?

One of Reddit's largest investors is Andreessen Horowitz, a leading investment firm in internet startups. The company participated in Reddit's $50 million investment round in 2014. In the same investment round, Peter Thiel, co-founder of PayPal, and rapper Snoop Dogg were among Reddit's investors. Other Reddit investors include Tencent, Fidelity, Sequoia Capital, and Baillie Gifford, among others. In 2021, Reddit raised several more investment rounds, reaching a valuation of approximately $10 billion. Companies such as SoftBank, ICONIQ Capital, and Sequoia Capital participated in these investment rounds.