Sources say that Reddit plans to IPO in the second half of this year.

CTOnews.com, Feb. 15 (Xinhua)-- social media platform Reddit is looking to go public later this year, possibly in the second half of the year, The Information reported Tuesday, citing sources.

Reddit and other companies, including grocery distribution company Instacart, are updating their IPO documents to prepare for listings when market conditions improve, the report said.

CTOnews.com learned that the IPO market was almost stagnant and several high-profile listed companies were frozen last year as investor sentiment was depressed by a sell-off in high-growth technology stocks and volatility in capital markets.

Before Reddit secretly filed for an initial public offering with the US securities regulator in December 2021, Reddit had become an important platform for many retail investors to exchange online celebrity stocks.