Reddit plans to go public in Q1 2024, with an estimated valuation of about $15 billion

2023-11-29 10:25:00

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According to ChainCatcher, Bloomberg reports that Reddit is in discussions with potential investors to prepare for a possible IPO of the social media group. Sources familiar with the matter indicate that Reddit is considering an early potential initial public offering in the first quarter of next year, with an estimated valuation of around $15 billion.

Previous news, on October 18, Reddit decided to terminate its nearly three-year-old blockchain-based community points service. Tim Rathschmidt, Reddit's head of consumer and product communications, stated: While we see some future opportunities for community points, the resource investment required is too high to sustain. Additionally, the regulatory environment has added difficulties in this area. Reddit will discontinue community points on November 8.

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