Quora is preparing for an initial public offering (IPO) in early 2022, according to a report

According to persons familiar with the situation, Quora Inc, a knowledge-sharing website based in the United States, has begun preparations for an initial public offering (IPO) in early 2022.

According to the sources, Quora has been in talks with investment bankers and lawyers in recent days in preparation for a stock market launch in New York. According to one of the individuals, the Mountain View, California-based company was valued at roughly $2 billion in a private investment round in 2019 and expects to be worth more than twice that in an IPO.

The sources, who asked to remain anonymous since the preparations are private, warned that the flotation’s timing and scale are dependent to market conditions and could alter.

The firm does not “comment on rumours,” according to a Quora spokeswoman.

Quora’s IPO preparations follow a record-breaking year for initial public offerings. According to Reuters, a number of big-name digital businesses, including Stripe, Instacart, Rappi, and GoPuff, are planning to go public next year.

Another social network startup, Reddit, is planning to go public in 2022 and is close to hiring consultants, according to Reuters.

Quora, which was founded in 2009 by Adam D’Angelo and Charlie Cheever, two former Facebook executives, sprang to prominence thanks to its search engine optimization algorithm, which offers users answers to unusual queries.

It started off as a simple question-and-answer service but has now extended to include blogging. Quora is used by nearly 300 million individuals per month, according to a corporate blog post https://quorablog.quora.com/New-Quora-Subscription-Products.

Aside from advertising, the company has struggled to generate money. Quora will unveil a subscription service that will allow producers to charge for content, according to D’Angelo’s blog post.

Benchmark Capital, a venture capital firm based in Silicon Valley, and Peter Thiel were among Quora’s early investors. (Bengaluru reporting by Anirban Sen, New York reporting by Echo Wang, and editing by Richard Pullin)

This report was taken directly from a wire service feed, with no changes made to the language. The only thing that has changed is the headline.