Social media site Reddit seeks to launch its initial public offering in March, three years after it first filed.

According to reports, the company plans to make its public filing in late February with a plan to complete the IPO by the end of the next month. Reddit is expected to announce what valuation it wants then and will reportedly sell off around 10% of its shares in the IPO.

If the IPO doesn’t get delayed, it would be a significant step forward for the app. It would also be the first major IPO by a social media company since Pinterest went public in 2019.

Reddit is popular in certain communities, as it gives each niche a space to freely communicate and gather information. However, in the public arena, it has stiff competition from the likes of X, Meta and TikTok.

Reddit has made significant changes in preparation for its long-awaited IPO. One of the most important is its decision to charge developers for access to its application programming interface. The decision sparked outrage among some users and independent developers, who launched a monthslong strike closing down popular pages.

Reddit seemed to win out in the long run, with the added revenue from advertising and API boosting the company’s confidence going into this year’s IPO.

• Vaughn Cockayne can be reached at vcockayne@washingtontimes.com.