US based knowledge-sharing website Quora has started preparing for an initial public offering in early 2022 and has held talks to hire investment bankers for an US stock market debut, as per Reuters.
Quora is expected to seek a valuation of over $4 billion in the IPO. The Mountain View, California-based company was valued at around $2 billion in a private funding round in 2019, and hopes to be worth more than twice that in an IPO, one of the sources added.
Founded in 2009 by former Facebook executives, it was valued at around $2 billion in 2019, Quora gained popularity on the back of its search engine optimization technology, which provides users with answers to uncommon questions.
The company has struggled to generate revenue beyond advertising. In the blog post, Co-Founder Adam D'Angelo said Quora would launch a subscription feature that would allow creators to charge for content.
Beginning as a simple question-and-answer site, Quora has now expanded its offerings to include blogging. Over 300 million people use Quora every month.
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