Briefing

The Briefing: Reddit Reportedly Plans IPO, Iconiq Eyes SPAC Deal, And More

Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

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Reddit reportedly planning big IPO

Online discussion form Reddit is talking to investment banks and attorneys in preparation for a potential IPO in coming months, according to a Reuters report citing unnamed sources.

The company was reportedly valued around $10 billion in a private funding round last month. As a public company, Reddit is said to be seeking a valuation of more than $15 billion.

Founded in 2005, Reddit has raised at least $1.3 billion in known funding to date, per Crunchbase data, with the majority of investment occurring over the past two years.

Chinese EV maker Iconiq mulls SPAC listing

China-based electric vehicle maker Iconiq is in talks about potentially going public through a merger with a blank-check acquirer, according to a Bloomberg report citing unnamed sources. A deal could reportedly value the combined company at around $4 billion.

Funding rounds

Sunday raises $45M Series B: Bangkok-based Sunday, a tech-focused provider of insurance policies and underwriting, raised $45 million in a Series B financing backed by Tencent, SCB 10X, Vertex Ventures Southeast Asia & India, Quona Capital, Aflac Innovation Partners and Z Venture Capital.

—  Joanna Glasner

Illustration: Dom Guzman

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