Reddit may be flirting with an IPO again

Social media giant Reddit is reportedly testing the IPO waters again.

Bloomberg reported on Monday that Reddit “is Conducted talks with potential investors for an initial public offering.”

The San Francisco-based company, co-founded by Steve HuffmanAaron Swartz and Alexis Ohanian in 2005is considering going public as early as the first quarter, sources told Bloomberg.

In December of 2021, Reddit a draft is submitted confidentially Securities and Exchange Commission registration statement to inform the public. But those plans never materialized. That move comes just months after Reddit secured a whopping $410 million in financing led by Fidelity, valuing it at $10 billion. It plans to close the round, a Series F, of $700 million at the time.

Then, in January of 2022, Reddit went even further to tap Morgan Stanley and Goldman Sachs to work on the list. At the time, it considered a valuation of around $15 billion.

It is not yet known what amount will be made public next year if the offering goes ahead.

When contacted, a Reddit spokesperson told TechCrunch via email that the company was in a quiet period and could not comment.

This story was updated after publication to include a response from Reddit.

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