Quora Said to Begin Preparations for IPO in Early 2022

US knowledge-sharing web site Quora has kicked off preparations for an preliminary public providing (IPO) in early 2022, based on folks aware of the matter.

Quora has in current days held talks to rent funding bankers and attorneys for a inventory market debut in New York, the sources mentioned. The Mountain View, California-based firm was valued at round $2 billion in a non-public funding spherical in 2019, and hopes to be price greater than twice that in an IPO, one of many sources added.

The sources, who requested anonymity as a result of the preparations are confidential, cautioned that the timing and dimension of the flotation are topic to market situations and will change.

A Quora spokesperson mentioned the corporate doesn’t “touch upon rumours.”

Quora’s itemizing plans come on the heels of a record-breaking 12 months for IPOs. Quite a lot of big-name tech startups together with Stripe, Instacart, Rappi, and GoPuff are making ready to go public subsequent 12 months, sources have advised Reuters.

Reddit, one other social media firm, can also be making ready to go public in 2022 and is near hiring advisors for its itemizing, Reuters has reported.

Based in 2009 by former Fb executives Adam D’Angelo and Charlie Cheever, Quora gained reputation on the again of its search engine optimisation know-how, which offers customers with solutions to unusual questions.

Whereas it started as a easy question-and-answer website, it expanded its choices to incorporate running a blog. In line with a current weblog put up from the corporate, over 300 million folks use Quora each month.

The corporate has struggled to generate income past promoting. Within the weblog put up, D’Angelo mentioned Quora would launch a subscription function that might enable creators to cost for content material.

Silicon Valley-based enterprise capital large Benchmark Capital and Peter Thiel are amongst Quora’s early traders.

© Thomson Reuters 2021