Reddit has drawn up detailed plans to launch its IPO in March, moving forward with a listing it has been eyeing for more than three years, according to people familiar with the matter.
The data would suggest that Reddit should be eyeing a far lower valuation, though according to Reuters, the platform was valued at around $10 billion as per its last funding round in 2021.
Back in 2020, in the wake of the George Floyd incident, Reddit updated its policies around racism and hate speech, which resulted in thousands of its most controversial communities being shut down entirely. Since then, Reddit has implemented a range of additional rules to clean up its communities, while more recently, it's also been looking to implement more control, via new processes for moderators, in order to reduce its reliance on volunteer contributors.
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