Posted 3/17/2024, 10:04:45 PM
Reddit IPO Heavily Oversubscribed, But Valuation Expectations Tempered
- Reddit's IPO is 4-5 times oversubscribed, indicating strong demand and likelihood of meeting $6.5B valuation target
- Reddit has already lowered valuation expectations from $10B private fundraising valuation in 2021
- IPO seeks to raise up to $748 million
- Despite loyal userbase, Reddit has struggled to make profit and lags commercial success of Facebook and Twitter
- Reddit had 73.1 million daily active users in Q4 2022
