Reddit picks New York Stock Exchange for IPO in win over Nasdaq

REDDIT has picked the New York Stock Exchange (NYSE) for its initial public offering (IPO), according to a person familiar with the matter.

The San Francisco-based social media company, which said it confidentially filed offering paperwork in 2021, is expected to unveil the filing later this month, the person said, asking not to be identified discussing information that’s not public. The Wall Street Journal earlier reported on the choice of NYSE. It’s a win for the NYSE in its competition with Nasdaq for high-profile IPOs. 

A spokesperson for Reddit declined to comment.

Reddit is considering feedback from early meetings with potential investors in its IPO that it should consider a valuation of at least US$5 billion, Bloomberg News reported. The company is considering a possible listing as soon as March, Bloomberg News reported. BLOOMBERG