Reddit IPO: Social media platform’s initial public offering on the anvil

The Reddit IPO listing date, share price will be announced once the SEC completes its review process.

Reddit IPO, listing date, share price, initial public offering Reddit, valuations, social media platform,
Amongst some of the big US IPO in 2022, the proposed Reddit IPO can be expected to garner huge response from the investor community.

From GameStop Corp (GME) to movie operator AMC Entertainment Holdings Inc (AMC), Reddit community users have been instrumental in fuelling several ‘meme’ stock rallies this year. Now, Reddit is getting ready to come out with its own IPO.

Reddit, the popular social media platform, has announced the confidential submission of a draft registration statement related to a proposed public offering. Reddit IPO can be expected soon as the company has submitted the draft registration statement on Form S-1 with the Securities and Exchange Commission (SEC) relating to the proposed initial public offering of its common stock.

Amongst some of the big US IPO in 2022, the proposed Reddit IPO can be expected to garner huge response from the investor community.

The number of shares to be offered and the price range for the proposed Reddit IPO have not yet been determined. The initial public offering of Reddit is expected to occur after the SEC completes its review process, subject to market and other conditions. The Reddit IPO listing date, share price will be announced once the process gets completed by the SEC.

Reddit had earlier raised its Series E round of funding and also were making strategic investments to grow Reddit, including expanding internationally and bolstering the advertising offerings and capabilities.

Company’s recent funding round to raise $700 million in Series F funding, led by Fidelity Management and Research Company LLC. and including other existing investors, puts the company at a valuation of over $10 billion.

This year Reddit marked its first $100 million advertising revenue quarter (Q2 2021), representing a 192 percent increase compared to the same period last year. The company is also investing in existing products and diversifying the Reddit experience to include new ways for communities to connect through video and audio. Once the company releases the financials, it will be interesting to see what are the opportunities and risks for the company in the long term.

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