Reddit targeted a value of around $6.5B in its upcoming IPO.


Reddit and its current owners want to collect around $750 million in their upcoming IPO, as mentioned in a filing on Monday.

The company and current owners want to sell around 22 million shares, priced between $31 and $34 per share.

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Reddit, the company with online discussion forums on all sorts of topics, aims to be worth around $6.5 billion in its upcoming stock market debut.

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Reddit reserved 1.76 million shares for users (Redditors) who joined before Jan, letting them join the IPO.

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People are keeping a close eye on Reddit's debut. It's the first big tech launch this year and the first social media IPO since Pinterest in 2019.

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In that year, Reddit got $1.3 billion in funding and was valued at $10 billion privately, as per PitchBook.

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Tencent, Advance Magazine Publishers, and OpenAI CEO Sam Altman are big investors in the company. Altman was on Reddit's board from 2015 to 2022.

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The company said in its document that if Redditors join its IPO, it might make the stock price go up and down a lot.

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