Reddit Eyes 2024 IPO Amid Volatile Market, Estimates $15B Valuation: Report
Portfolio Pulse from Benzinga Neuro
Reddit Inc. is reportedly planning an IPO as early as Q1 2024 with a potential $15B valuation, in discussions with Morgan Stanley and Goldman Sachs. The IPO market has been weak, with 2023 seeing the worst performance in over a decade. Other companies like Rubrik Inc., backed by Microsoft, and Skims are also considering IPOs.
November 28, 2023 | 9:09 am
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POSITIVE IMPACT
Goldman Sachs Group Inc. is working with Reddit on its anticipated IPO, potentially benefiting from related advisory fees.
Goldman Sachs' role in advising Reddit on its IPO could result in increased advisory fees, which might have a positive effect on its stock price in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Morgan Stanley is collaborating with Reddit for its potential IPO in 2024, which could enhance the bank's revenue from advisory services.
Morgan Stanley's involvement in Reddit's IPO could lead to increased revenue from advisory services, which may positively impact its stock in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Microsoft-backed Rubrik Inc. is considering an IPO, which could reflect positively on Microsoft's investment portfolio.
As an investor in Rubrik Inc., Microsoft could see benefits to its investment portfolio if Rubrik's IPO is successful, potentially impacting Microsoft's stock positively.
CONFIDENCE 75
IMPORTANCE 40
RELEVANCE 50