Two of the words 'Finally' and 'may' from the title define it all about the catch-catch situation that is Reddit in right now. It was way back in December 2021 when Reddit first filed for an initial listing of its IPO, but for the reasons never disclosed Reddit has been delaying it forever. Now, thanks to Reuters, the speculation for the launch of a Social Media IPO has resurfaced almost after 3 years. 
If you are wondering why the Reddit IPO has been buzzing in the media, the first reason goes to the scarcity of social media companies on stock exchanges. FYI It would be the first IPO of a major social media company since Pinterest's debut in 2019. Reddit developed being a hot pot for Bitcoin and crypto related discussions is another reason. We all know how popular Reddit has been for crypto space. This popularity, however, has never been able to provide a profit bed for Reddit.
Huffman, one of the founders of Reddit in 2006, shared that the company has always remained under profit and that the revenue which mostly streamed through advertising and subscription is less than running cost. While Reddit's plans of executing an IPO in 2021, Huffman did not see 2021 as the best market for an IPO, hence delaying the launch.
Why wasn't that the best market? It was only because they didn't like a $10 Billion valuation. Yes, when Reddit filed in 2021, it was valued at $10 Billion company, which they sought to be at $15 Billion or more. For this they joined hands with Margan Stanley and Goldman Sachs but this didn't come off. Additionally, Reddit set a goal of generating $1 Billion profit through advertisement, but again that didn't materialise. 
So basically Reddit has tried everything but the fortune isn't favouring the brave this time. At this time it looks highly possible that Reddit IPO would be launching it in March. But considering the past actions, a last minute alteration in plans can't be denied, albeit they have a choice!
Let's dig a little about 'MOONS', which tells us about another 'assignment from Reddit that drifted on and off.' First, they made it tip currency for Reddit and then removed it, again thought of embracing it. While MOONS is still running, it is merely supported by a few Mods at Reddit. MOONS is now out ranked and quite unpopular. However Reddit is trying to revive MOONS with every effort. The recent chain-migration to  Arbitrum Nova is one such effort in the direction.
All in all, Reddit is trying to do whatever it can so as to compete with Facebook and TikTok which currently dominate social media on wall street. TBH the Reddit IPO, if launched, would likely heat up the competition into the social media stocks. The recent reports have claimed with affirmation for the debut of Reddit at wall street. However, personally I won't believe until they start selling, as has been the case of laziness and confusion within Reddit's Management. If they had launched in 2021, they might have had a better market conditions now, especially regarding the valuation of $15 Billion.
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this territory is moderated
Reddit is dead to me now that I have SN.
does reddit actually make money though? every time I've used their ads platform I've spent hundreds with zero results.