NEW YORK, January 29. /TASS/. The valuation of online platform Reddit could reach $5 bln before its initial public offering (IPO), Bloomberg reported citing sources.

According to the report, "Reddit Inc. is weighing feedback from early meetings with potential investors in its initial public offering that it should consider a valuation of at least $5 bln, according to people familiar with the matter, even as it is estimated below that figure in the volatile market for shares of private companies."

The company plans to hold an IPO in March this year, Bloomberg reported.

Reddit was launched in 2005, and in 2006 it was acquired by the publishing house Conde Nast for $10 mln, according to Axios. Over 50 mln people visit the website every day, The New York Times writes.