Reddit is planning an initial public offering and the New York Stock Exchange won the listing, the Wall Street Journal has reported.
The San Francisco-based social media company confidentially filed offering paperwork with the US Securities and Exchange Commission in 2021, it had said in a blog post back then.
However, plans were put on hold amid a challenging business climate and aligning with the broader trend of delayed IPOs in the tech sector.
It is expected to unveil the filing as soon as later this month and will name NYSE as its exchange, according to the WSJ report.
The listing is a coup for the NYSE in its competition with Nasdaq for high-profile IPOs.
In 2023, the number of IPOs on US exchanges annually increased by 42 per cent, but IPO proceeds grew by more than 160 per cent, driven by several large high-profile listings, an EY report said in January.
There were seven IPOs in 2023, which raised more than $500 million, compared…
