Reddit, Inc. has drawn up detailed plans to launch its initial public offering (IPO) in March, moving forward with a listing it has been eyeing for more than three years, according to people familiar with the matter. It would be the first IPO of a major social media company since Pinterest's (PINS.N) debut in 2019, and would come as Reddit and its peers face stiff competition for advertising dollars from the likes of TikTok and Facebook (META.O). Reddit, which filed confidentially for its IPO in December 2021, is planning to make its public filing in late February, launch its roadshow in early March, and complete the IPO by the end of March, two of the sources said.

The sources cautioned that Reddit's IPO plans could be pushed back, as has happened in the past, and asked not to be identified discussing confidential deliberations. A Reddit spokesperson declined to comment.