US knowledge-sharing web site Quora has kicked off preparations for an preliminary public providing (IPO) in early 2022, in keeping with individuals accustomed to the matter.
Quora has in latest 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 personal 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 circumstances 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 yr for IPOs. Numerous big-name tech startups together with Stripe, Instacart, Rappi, and GoPuff are making ready to go public subsequent yr, sources have informed Reuters.
Reddit, one other social media firm, can 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 recognition on the again of its search engine optimisation know-how, which supplies customers with solutions to unusual questions.
Whereas it started as a easy question-and-answer web site, it expanded its choices to incorporate running a blog. In response to a latest weblog publish from the corporate, over 300 million individuals use Quora each month.
The corporate has struggled to generate income past promoting. Within the weblog publish, D’Angelo mentioned Quora would launch a subscription characteristic that might permit creators to cost for content material.
Silicon Valley-based enterprise capital big Benchmark Capital and Peter Thiel are amongst Quora’s early traders.
© Thomson Reuters 2021
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