Reddit Targets $6.5 Billion Valuation for IPO, Adjusting from Pandemic Peak

The social media platform plans to price shares between $31 to $34, reflecting a cautious market approach.

Reddit is planning an IPO with a valuation target of up to $6.5 billion, a significant decrease from its previous valuation of $10 billion in 2021.
The company aims to price its shares between $31 to $34, with the IPO being led by major financial institutions including Morgan Stanley and Goldman Sachs.
Reddit's decision to lower its valuation reflects a cautious approach amid a broader market downturn, contrasting with the tech industry's pandemic-era highs.
Employees and users will have the opportunity to sell and purchase shares in the IPO, emphasizing Reddit's community-focused ethos.
The IPO marks a major milestone for Reddit, nearly two decades after its launch, testing its commercial viability against other social media giants.