Reddit Prices $6.4 Billion IPO, Offering Some Shares to Users Amid Scrutiny Over Data Deals and Lawsuit

Reddit prices IPO shares at $34 each, valuing the company at $6.4 billion in one of the largest social media IPOs
Reddit offered some IPO shares to platform users, although the number is undisclosed
Reddit aims to become profitable via licensing deals for its data to AI firms like OpenAI; has deals worth over $200 million
Reddit faces regulatory scrutiny over its AI data deals and a patent lawsuit from Nokia
Reddit warns its volatile user base poses a risk to shareholders if engagement declines