Reddit Inc., the social networking business that fueled the 2021 meme stock mania, is reportedly working with Goldman Sachs Group Inc. and Morgan Stanley to go public as early as March this year. Sources close to the matter stated that the firm could reach a valuation of USD 15 billion in its stock market debut. Last July, investors valued the San Francisco-based startup at USD 10 billion in a funding round spearheaded by Fidelity Management. Coatue Management, Andreessen Horowitz, Sequoia Capital, and Tencent Holdings Ltd. are among other major investors in Reddit. According to reliable sources, there were 426 technology IPOs and 332 healthcare-related deals last year, accounting for nearly 42% of all IPO funds raised globally.

Source: Economic Times January 10, 2022 12:07 UTC