Reddit goes public: the latest updates on its IPO
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Reddit seeks $6.5 billion valuation in IPO.
The company hopes to raise up to $748 million when it goes public by selling about 22 million shares at $31 to $34 per share, according to a public filing issued Monday after Bloomberg first reported the number.
Part of its plan will rest on its own users and moderators, for whom the company will set aside 1.76 million shares. Reddit’s valuation would be down from the $10 billion it hoped for when it first filed to go public in 2021.
Update March 11th, 6:41AM ET: Added official filing.
A lot of Redditors hate the Reddit IPO
Elizabeth Lopatto
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