Posted 3/20/2024, 10:31:41 PM
Reddit Prices $748 Million IPO at $34 Per Share; Sets Aside Shares for Users
- Reddit prices IPO at $34 per share, valuing the company at $6.4 billion
- Reddit has never been profitable, piling up losses of over $700 million
- IPO raises about $748 million, including selling shares for some existing Reddit shareholders
- Reddit setting aside up to 1.76 million IPO shares for users of its platform
- Strong investor demand for the IPO amid interest in Reddit's large user base and future money-making potential