Social media company Reddit is far from profitability but has its sights set on finally going public later this year—likely in the second half, people familiar with the matter said.
Reddit and other firms including Instacart are keeping their initial public offering paperwork up to date, priming them for potential debuts when market conditions improve. But other IPO contenders—including software firm ServiceTitan, e-commerce startup StockX and data security company Cohesity—have stopped updating their filings, people familiar with the matter said, essentially putting their plans on the shelf for now. Payments giant Stripe, which said last month it would either go public or raise money privately within a year, is taking the latter path.
All those moves provide clues toward answering key questions hanging over the tech industry: When will the icy IPO market begin to thaw? And which big names will be among the first to take the plunge? (See The Information’s Tech IPO Tracker here.)