Reddit is closing in on its long-awaited IPO, with reports indicating the social media platform could go public as soon as March.
Plans for the company to list have been in the pipeline for more than three years.
If the launch can be pulled off soon, it could be vital for Reddit, which is fighting with TikTok and Facebook for already depleting advertising revenue.
Reddit, which was last valued at US$10 billion in 2021, is hoping to sell around 10% of its shares, should the IPO go ahead.
It would mark the first IPO by a major social media company since Pinterest's introduction in 2019.
Reddit’s plans would likely see it listed on the New York Stock Exchange, where it would join a whole host of social media stocks including Snapchat owner Snap Inc (NYSE:SNAP), Grindr, Tinder owner Match Group (NASDAQ:MTCH) and top dog Meta, which owns Instagram and Facebook.
The platform has been central in numerous "meme" stock rallies over the past three years, which sees companies such as GameStop and AMC Entertainment Holdings (NYSE:AMC) soar on the back of intense retail investor support.
Reddit, which confidentially filed for its IPO in December 2021, is expected to unveil its public filing in late February, before commencing its roadshow in early March, reports from Reuters revealed.