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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