Reddit Prices IPO at Top of Range Valuing Platform at $64bn

Published: 21 March 2024 at 01:11

Reddit has priced its shares at the top of a marketed range, raising $748m in one of the largest social media IPOs. With over 73 million users, the platform has struggled with profitability but aims to leverage AI models for revenue. Licensing deals with AI firms could make Reddit profitable, as seen with a $60m agreement with Google. However, concerns remain, including regulatory scrutiny.

SOURCES

Reddit prices IPO at $34 per share, the top of the range

Marina Temkin

Reddit’s IPO could cost $34 per share.

The Verge

Reddit poised to make its stock market debut after IPO prices at $34 per share amid strong demand

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