Report: Two classic S.F. companies want to go public

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How much will karma points count for on the public market? Reddit might find out. The company is looking into an IPO this year.

The rambunctious social media platform Reddit and grocery delivery service Instacart, both based in San Francisco, are staying up to date with their initial public offering paperwork, according to a report by The Information.

Both companies could be waiting for market conditions to improve before stepping onto the public stage. In 2022, the Nasdaq — widely regarded as a tech heavy stock index — fell 33.1%. In 2023, the index has seen some improvement, with a 10% rally in January. At the same time, the tech industry has seen sweeping layoffs.

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