Reddit Plans An IPO For The Second Half of 2023, According to The Information

Reddit Inc plans to go public later this year, most likely in the second half, the Information reported on Tuesday, citing sources familiar with the situation.

Reddit and other companies, like Instacart, are keeping their initial public offering documentation current in preparation for their debuts when market circumstances improve, according to the article.

Reddit failed to react promptly to Reuters' request for comment.

As a result of a selloff in high-growth technology firms and instability in the capital markets, investor confidence deteriorated and the IPO market came to a virtual stop in 2017.

Reddit filed confidentially for an IPO with the U.S. securities commission in December 2021, after the company's message boards became the go-to destination for day traders amid the meme stock craze.