According to people familiar with the matter, social media network Reddit Inc plans to go public later this year, most likely in the second half, according to The Information on Tuesday.
According to the article, Reddit and other companies, including food delivery company Instacart, are keeping their initial public offering paperwork up to date in anticipation of their debuts when market circumstances improve.
Reuters’ request for comment was not immediately responded to by Reddit.
The IPO market came to a halt last year, with several high-profile listings put on hold as a selloff in high-growth tech firms and financial market volatility soured investor sentiment.
After the company’s message boards became the go-to destination for day traders during the meme stock frenzy, Reddit filed for an initial public offering (IPO) with the US Securities and Exchange Commission in December 2021.
