By now, there is no doubt in saying that the year 2021 has turned out to be full of surprises. The year has proven to be phenomenal when it comes to tech giants and social media platforms making huge moves. These sectors have generated the highest amount of revenues and earnings since the pandemic hit the world.
This is mainly because when the people were confined to their houses during the pandemic, all they could do was use more internet and computers. This way, the people were more interested to know about the world through virtual means than do it physically.
In the last two years, the online industry has become extremely important for people as they have grown bad habits of doing everything through the internet.
Therefore, companies such as Reddit, Twitter, and Facebook have started coming up with smarter ways of generating high revenues. So far, dozens of companies have gone public in order to sell their shares and make more money.
This is where Reddit comes in and wants its presence known throughout the world. Just recently, it has been revealed that the online message boards’ operator has made an announcement around its market presence.
The platform has announced that it is observing a tremendous amount of participation and acceptance from the digital sector for investments. This is the reason the company is aiming to benefit from its users and increase its market worth and valuation.
Therefore, Reddit is also aiming to benefit from the market condition and sentiments surrounding technological advancements in the online sector.
This is the reason why Reddit is planning to go for a public listing. However, the initial phase before the firm goes public is to go for an initial public offering (IPO). As this is going to be the first time Reddit goes for a public listing, therefore, it is aiming to do it with the right approach.
The sources reveal that Reddit is currently seeking lawyers and investment bankers, to bring them onboard. The firm wants to gather all the information and guidance it can get before it proceeds with its initial public offering.
Several people familiar with the matter have come forth sharing information surrounding Reddit’s consideration for an IPO. The information was shared by the internal sources around the matter on Thursday, September 2, 2021.
It was in the month of August 2021, when Reddit went for a private funding round. Following the completion of the funding round, Reddit reported that its market valuation had reached $10 billion. The firm has revealed that it is planning to go for an IPO at the beginning of 2022.
According to Reddit, it is aiming to bring its market valuation all the way up to $15 billion by the time it is ready to go for a public listing.