Social Q&A website Quora likely to file for IPO in 2022: Report

The exact timing and size of the planned IPO will be subject to conditions of the market at the time of the flotation and there could therefore vary, the sources informed.

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Social question and answer website Quora is reportedly gearing up to float an Initial Public Offering (IPO) in the early months of 2022. The sources also stated that the California-based company is in talks to finalise investment bankers and lawyers to oversee its first stock market appearance in New York.

The knowledge-sharing website was last valued at close to $2 billion after a funding round in 2019. Quora is seeking to more than double its valuation from the funds gained through the planned IPO, the sources claimed. 

However, the exact timing and size of the planned IPO will be subject to conditions of the market at the time of the flotation and there could therefore vary, the sources informed. Meanwhile, a spokesperson from Quora has stated that the company does not respond to rumours. 

The silicon valley company has been so far mostly dependent on advertisements on its platforms for revenue generation. Quora, however, plans to develop its sources of revenue by offering a subscription feature to its content creators to charge for content uploaded on its platform. 

Moreover, the website, which was initially a hot topic because of its search engine optimisation technology, is expanding to offer users features beyond providing answers to questions and now encompasses blogging as well. In a blog posted on Quora, the company’s co-founder Adam D’Angelo unveiled that the website currently has a monthly userbase of over 300 million people.

Quora’s plan to list itself on the stock market comes as a myriad of popular startups are aiming to float IPOs within the next year to become publicly listed companies. The list of companies rumoured to be preparing for an IPO in 2022 includes Instacart, Rappi and GoPuff.

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