Reddit Sets IPO Price Range, Eyes $6.4 Billion Valuation

Reddit plans to offer 22 million shares priced between $31 and $34 in its upcoming IPO, marking a significant step in the company's journey to going public.

Reddit aims to raise up to $748 million in its initial public offering, with a valuation of nearly $6.5 billion.
The social media platform will list on the New York Stock Exchange under the ticker symbol 'RDDT', expected to go public this month or next.
Reddit's IPO will be the first major U.S. social media company to go public in years, following Pinterest's IPO in 2019.
The company has reserved shares for its users and moderators, emphasizing community ownership in its public offering.
Despite its popularity, Reddit has yet to achieve profitability, recording a net loss of $90.8 million in 2023.