Reddit's long on-again, off-again plans to go public might be on yet again. Bloomberg reports that the social media giant has once more begun holding talks with potential investors, with optimism rising about a possible window for public debuts.
Much heralded IPOs from Instacart and Klaviyo, which many thought would signal the resurrection of the public offering market earlier this year, started strong, but both companies are now trading 10-15% below their first trade price. That halted plans by many would-be public companies to make their own debut.
Reddit has been one of the leading IPO candidates for two years now, but has remained on the sidelines as the market has not been conducive to big public debuts. Last year was the worst in a decade for IPOs, and 2023 is likely to be just a tiny bit better. Much heralded IPOs from Instacart and Klaviyo, which many thought would signal the resurrection of the public offering market earlier this year, started strong, but both companies are now trading 10-15% below their first trade price.
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