Reddit, the home of the influencer stock boom, allegedly hired Morgan Stanley and Goldman Sachs to help with the IPO

Source: Financial community

Reddit Inc., a social media company based on the 2021 internet celebrity stock boom, is working with Morgan Stanley and Goldman Sachs to prepare for an IPO as early as March, according to people familiar with the matter.

People familiar with the matter, who did not want to be named, said Reddit's IPO valuation could be as high as $15 billion.

In a funding round led by Fidelity Management last summer, San Francisco-based Reddit was valued at $10 billion. According to PitchBook, Reddit's other investors include Sequoia Capital, Andreessen Horowitz, Coatue Management and Tencent.

Reddit's plan is not a final solution, and details including time and valuation may still change, people familiar with the matter said.

Representatives for Reddit, Morgan Stanley and Goldman Sachs declined to comment.

Reddit announced last December that it had filed IPO filings with the SEC, but did not mention timing or advisory bodies.