Reddit Prices $748M IPO at $34 Per Share, Reserves Shares for Users in Risky Move

• Reddit prices IPO at $34 per share, top of expected range, valuing company at $6.4B • IPO raises $748M for Reddit and selling shareholders • Reddit IPO seen as test of volatile market and investor appetite for new issues • Company reserves 8% of shares for users and moderators, risky move that could dampen trading • As Reddit struggles to make profit, investors will watch closely for path to profitability after public debut