Reddit eyes initial public offering in second half of 2023 -The Information

Social media giant Reddit is reportedly planning to go public later this year, probably in the second half, sources familiar with the matter told The Information.

The report comes more than a year after the company confidentially filed paperwork with the U.S. Securities and Exchange Commission for an IPO in December 2019, when it fueled meme stock frenzy.

According to the sources, along with other companies including on-demand grocery delivery company Instacart, Reddit is making sure its IPO paperwork is up to date so that they could be ready for its debut when conditions in the market get better.

However, there are also companies that no longer update their paperwork since they halted their IPO plans, such as cloud-based software platform ServiceTitan and ecommerce company StockX, they added.

In addition, financial services company Stripe, which reportedly set a one-year deadline to decide on IPO, will raise money privately within twelve months, the report said.