50
Rating may change
Valuation of online platform Reddit, popular among US and English-speaking users, could reach $5 billion ahead of its upcoming initial public offering (IPO).
As sources told Bloomberg on Sunday, the company's consultants named this amount after meetings with potential investors, but this is a preliminary estimate that may be subject to change.
The company's current plans include an initial public offering in March 2024, according to Bloomberg.
The Reddit web forum was launched in 2005, and in 2006, the publishing house Conde Nast acquired it for $10 million. More than 50 million people visit the site every day.