No, it is standing on a heap of lies. It's founder and the CEO have been crying baby faces that the company hasn't never been profitable, so they must show more adds. But that didn't materialise, he came up with ipo bullshit. It's not the first time he is trying it, it's just a game to fool everyone. He only wants to increase the company's networth, so as to churn out more from public. Reddit is like a train that never actually started. You can read in detail here.https://www.publish0x.com/coinsreporter/finally-reddit-may-launch-its-ipo-in-march-xwvvlor