Reddit looking at early next year IPO amid favorable market conditions – Bloomberg
2023.12.08 14:58
© Reuters.
NEW YORK – Reddit is working towards a highly anticipated initial public offering (IPO) early next year, aiming to capitalize on what appears to be a rejuvenated market for new listings, reports Bloomberg.
This move comes after the company delayed its IPO plans earlier due to market uncertainties triggered by Federal Reserve rate hikes. In December 2021, Reddit was targeting a $15 billion valuation, but market instability, highlighted by substantial losses in the Renaissance IPO ETF, forced a postponement.
With easing inflationary pressures and the possibility of Federal Reserve rate cuts on the horizon, major upcoming IPOs like those of Reddit and Shein could herald a broader resurgence within the capital markets sector.
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