Reddit seeks several billion valuation in March 2024 IPO, after raising at $10B in 2021.

Reddit seeks several billion valuation in March 2024 IPO, after raising at $10B in 2021.

  • Reddit Inc. is considering a valuation of at least $5 billion in its initial public offering (IPO), according to people familiar with the matter.

  • The company is currently estimated to be valued at below $5 billion in the volatile market for shares of private companies.

  • Reddit is targeting a valuation in the mid-single-digit billions, with the final figure depending on the IPO market's recovery.

  • The company is considering a possible listing as soon as March.

  • Private trades of Reddit's unlisted shares have valued the company below $5 billion, with potential buyers on Rainmaker Securities’ platform submitting bids indicating a value of between $4.5 billion and $4.8 billion.

  • Reddit raised funds in 2021 at a $10 billion valuation, and could potentially have been valued as much as $15 billion in an IPO.

  • Reddit, founded in 2005, had more than 70 million daily active unique visitors as of October.

  • The company became an icon of the so-called meme-stock era after a forum on the site, WallStreetBets, jolted the stock market.

  • The trading frenzy in 2021, driven largely by posts on the site, whipsawed the prices of GameStop Corp. and AMC Entertainment Holdings Inc.