Reddit Aims for $6.4 Billion Valuation in IPO

Published: 11 March 2024 at 13:49

Reddit plans to go public with an IPO on the New York Stock Exchange, aiming to raise up to $6.4 billion by selling 22 million shares priced between $31 and $34 each, with some shares reserved for users and moderators. The company, founded in 2005, operates as an online forum where users engage in discussions and posts, predominantly funded by advertising revenue. Notably, Reddit has consistently incurred losses, including $90 million in the previous year, and its valuation falls short of the $10 billion in a prior private fundraising round.

SOURCES

Reddit is reportedly planning to sell 22 million shares when it goes public.

The Verge

Hey Redditors, They Saved You Some Stock in Reddit’s IPO

Reddit looking to raise almost $750 million in initial public offering

By MICHELLE CHAPMAN

Reddit aiming for $6.5B valuation in long-awaited IPO

Fox News

Reddit aims for $6.4bn valuation ahead of initial public offering

https://www.facebook.com/bbcnews