Reddit Inc. is receiving recommendations from early discussions with potential investors in its initial public offering to potentially aim for a valuation of at least $5 billion, according to individuals familiar with the matter. This comes despite the fact that its estimated valuation falls below that figure in the currently volatile market for private company shares. The San Francisco-based social media company and its advisors are aiming for a valuation in the mid-single-digit billions, sources said on the condition of anonymity due to the private nature of the information. The final valuation will be determined by the nascent recovery of the IPO market. Reddit is contemplating a potential listing as early as March, according to the sources.
