Reddit Plans to Go Public with $6.4 Billion Valuation Despite Ongoing Profitability Concerns
- Reddit planning to go public on Thursday with target valuation around $6.4 billion and share price $31-$34
- IPO likely 4-5 times oversubscribed, will probably meet valuation target
- Profitability an ongoing concern for investors
- Reddit has lost money every year since 2005 launch
- Sales up 21% year-over-year but company still posted nearly $100M net loss